The Difference in Standard Price and Standard Cost of Direct

Multiple Choice

The difference in standard price and standard cost of direct material is that

A) standard price is the amount to produce one unit of product; standard cost is the amount paid to obtain one unit of material from a vendor.
B) standard price is the amount paid to obtain one unit of material from a vendor; standard cost is the amount to produce one unit of product.
C) standard price is the amount added to work in process as material is put into production; standard cost is the amount to produce one unit of product.
D) standard price is the amount to produce one unit of product; standard cost is the amount added to work in process as material is put into production.