Multiple Choice
Which of the following statements regarding the standard cost for direct materials is true?
A) It would be used on a static budget but not a flexible budget.
B) It would consist of two components - a standard quantity and a standard price.
C) It must be determined after materials are purchased for the year.
D) It can not be determined if a company uses a just-in-time inventory system.
Correct Answer:
Verified
Correct Answer:
Verified
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