Standard costs are used in companies for a variety of reasons. Which of the following is a benefit of using standard costs? O a. They are used to control costs. O b. They are used to estimate the cost of inventory. O c. They are used to plan direct materials, direct labor, and variable factory overhead. O d. all of these choices

Standard costs are used in companies for a variety of reasons. Which of the following is a benefit of using standard costs? O a. They are used to control costs. O b. They are used to estimate the cost of inventory. O c. They are used to plan direct materials, direct labor, and variable factory overhead. O d. all of these choices

Name: Standard costs are used in companies for a variety of reasons. Which
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Description: Standard costs are used in companies for a variety of reasons. Which of the following is a benefit of using standard costs?a. They are used to control costs.Ob. They are used to estimate the cost of inventory.O c. They are used to plan direct materi

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Standard costs are used in companies for a variety of reasons. Which of the following is a benefit of using standard costs? a. They are used to estimate the cost of inventory. b. They are used to control costs. c. They are used to plan direct materials, direct labor, and variable factory overhead. d. all of these choices
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