Standard costs are used in companies for a variety of reasons. Which of the foll
ID: 2425199 • Letter: S
Question
Standard costs are used in companies for a variety of reasons. Which of the following is NOT one of the benefits of using standard costs?
a
to indicate where changes in technology and machinery need to be made
b
to estimate the cost of inventory
c
to plan direct materials, direct labor, and variable factory overhead
d
to control costs
a
to indicate where changes in technology and machinery need to be made
b
to estimate the cost of inventory
c
to plan direct materials, direct labor, and variable factory overhead
d
to control costs
Explanation / Answer
to estimate cost of inventory