Which of the following statements is false?

A) Standard costs are used for product costing.
B) Standard costs provide a benchmark against which actual costs can be compared.
C) Standard costs are actual costs.
D) Standard costs are used for control.

Standard Costs

Predetermined costs for manufacturing a product or providing a service, used as benchmarks for measuring performance.

Product Costing

The process of determining the total cost involved in the production of a product, including material, labor, and overhead expenses.

Actual Costs

The actual costs are the genuine expenditures incurred by a business during production, operation, or other activities, as opposed to estimated or budgeted costs.