Standard costs:
A) allow a manager to assess the efficiency of operations.
B) allow a company to practice management by exception.
C) provide management with a basis for performance evaluations.
D) if set correctly, can provide a motivational tool for employees.
E) all of the other answers are correct.

Question

Quizplus · Accepted Answer

All of the given statements are correct. Standard costs allow managers to assess efficiency, practice management by exception, provide a basis for performance evaluations, and if set correctly, can be used as a motivational tool.

Standard Costs