Multiple Choice
The true statement is:
A) The limitation of actual costs is that they represent what happened not necessarily what should have happened
B) Standard costs are the costs necessary to produce an average or standard product
C) Standard costs can serve as benchmarks against which budgeted performance is measured
D) Standard costs can only be used for analytical purposes and can never be incorporated into the formal accounting system.
Correct Answer:
Verified
Correct Answer:
Verified
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