A purpose of standard costing is to
a. replace budgets and budgeting.
b. simplify costing procedures.
c. eliminate the need for actual costing for external reporting purposes.
d. eliminate the need to account for year-end underapplied or overapplied manufacturing overhead.
B
You might also like to view...
Which of the following symbols represents the standard deviation of the population?
A. ?2
B. ?
C. ?
D. 
A buyer of the 2013 Subaru Outback 2.5i could pay extra for four-way passenger seats, an All-Weather package, and a power moon roof because Subaru was using captive-product pricing
Indicate whether the statement is true or false
To minimize worrying about perfection, what should the presenter focus on?
A) Practice B) Subject matter C) Connecting with listeners D) Breathing E) Memorizing the opening line
Which of the following is not a reasonable expectation?
A) Continued business cycles B) Stable prices C) Instability in financial markets D) Periodic recessions