Asked by

terry bryant
on Oct 23, 2024

verifed

Verified

Which of the following statements relating to standard costs is false?

A) Standard costs result in more stable product costs.
B) Standard costs enable management to concentrate on significant variances.
C) Standard costs provide a valid basis for cost comparisons.
D) Standard costs cannot be used for external reporting.

Standard Costs

Predetermined or estimated costs used to measure the performance of a company by comparing them with actual costs.

Cost Comparisons

The analysis and review of different costs associated with performing various operations or producing different products within a business.

External Reporting

The preparation and disclosure of financial and other performance information by a company to external stakeholders, including regulators, investors, creditors, and the public.

  • Comprehend the principle of standard costing along with its critiques.
verifed

Verified Answer

GE
Glammy ExtensionsOct 26, 2024
Final Answer:
Get Full Answer