Standard costs are realistically predetermined costs of direct materials,direct labor,and overhead that usually are expressed as a cost per unit.

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Quizplus · Accepted Answer

This statement is true. Standard costs are predetermined costs that represent the expected costs of producing a unit of a product or providing a service, and they typically include the cost of direct materials, direct labor, and overhead. Standard costs can be useful for setting prices, analyzing variances, and making decisions based on cost information.

Standard Costs Are Realistically Predetermined Costs of Direct Materials,direct Labor,and