What is the cost that management believes should be incurred to produce a product under anticipated conditions called?
A)Budgeted cost
B)Ideal cost
C)Actual cost
D)Standard cost

Question

Quizplus · Accepted Answer

Standard cost is the cost that management believes should be incurred under anticipated conditions. It serves as a benchmark for measuring performance and efficiency in production.

What Is the Cost That Management Believes Should Be Incurred