Which of the following statements regarding standard costing is/are true?
A) Standard costing is useful in diagnosing organisational performance.
B) Standard costing is useful in performance appraisal.
C) Standard costing is useful in determining employee pay bonuses.
D) All of the given answers.

Question

Quizplus · Accepted Answer

Standard costing is a valuable tool for management in budgeting, cost control, and performance evaluation, making it useful in diagnosing organizational performance, performance appraisal, and potentially in determining employee pay bonuses as part of a performance-based compensation system.

Which of the Following Statements Regarding Standard Costing Is/are True