Indicate Whether Each of the Following Statements Is True or False

Short Answer

Indicate whether each of the following statements is true or false.
A company's standard costs may need to be reevaluated when there is a change in the training and experience level of the workforce.______
Standard costs are the basis for preparing flexible budgets but not static budgets.______
Standard costing focuses managerial attention on operations that are not functioning normally.______
Standard costing does not fit with the practice of management by exception.______
Standard costs should not serve as benchmarks for evaluating performance.______