Asked by
Nissona Hounshell
on Nov 13, 2024
Verified
Using standard costs
A) can make management planning more difficult.
B) promotes greater economy.
C) does not help in setting prices.
D) weakens management control.
Standard Costs
Predetermined costs for products, services, or activities, used as benchmarks for measuring performance.
Management Planning
The process of setting objectives and outlining a strategy to achieve those objectives within an organization.
- Appreciate the importance of standard costs in enhancing management's planning, control, and decision-making capabilities.
- Acknowledge the potential positive and negative aspects of deploying standard costs.
Verified Answer
RC
Learning Objectives
- Appreciate the importance of standard costs in enhancing management's planning, control, and decision-making capabilities.
- Acknowledge the potential positive and negative aspects of deploying standard costs.