Standard costs are divided into which of the following components?

A) variance standard and quantity standard
B) materials standard and labor standard
C) standard quality and standard quantity
D) standard price and standard quantity

Question

Jasmin Munoz · Accepted Answer

Final Answer : D, Explanation :  Standard costs are typically divided into two main components: standard price, which refers to the cost per unit of input (e.g., per pound, per hour, etc.), and standard quantity, which refers to the amount of input allowed for a unit of output (e.g., materials per product, labor hours per unit, etc.).

Standard costs are divided into which of the following components?

A) variance standard and quantity standard
B) materials standard and labor standard
C) standard quality and standard quantity
D) standard price and standard quantity

Definitions

Learning Objectives

Learning Objectives

Related questions

Standard costs are divided into which of the following components?A) variance standard and quantity standardB) materials standard and labor standardC) standard quality and standard quantityD) standard price and standard quantity

Definitions

Learning Objectives

Learning Objectives

Related questions

Standard costs are divided into which of the following components?

A) variance standard and quantity standard
B) materials standard and labor standard
C) standard quality and standard quantity
D) standard price and standard quantity