Asked by
Anna-Brooke Matkins
on Nov 17, 2024
Verified
Standards are performance goals used to evaluate and control operations.
Standards
Established norms or criteria in various fields that act as a basis for comparison or compliance.
Performance Goals
Specific objectives set for employees or departments, aimed at improving productivity and measuring success through quantifiable benchmarks.
- Acquire knowledge of standard costs and their significance in gauging operational effectiveness.
- Recognize the various types of standards (ideal, currently attainable) and their applications.
Verified Answer
CC
Learning Objectives
- Acquire knowledge of standard costs and their significance in gauging operational effectiveness.
- Recognize the various types of standards (ideal, currently attainable) and their applications.
Related questions
While Setting Standards, Managers Should Never Allow for Spoilage or ...
Standards Are Set for Only Direct Labor and Direct Materials
Ideal Standards Are Developed Under Conditions That Assume No Idle ...
The Standard Cost Is How Much a Product Should Cost ...
Currently Attainable Standards Do Not Allow for Reasonable Production Difficulties