Costs that reflect what costs should be for the units of product manufactured during the period under normal efficient operating conditions are known as

Question

Quizplus · Accepted Answer

Standard costs reflect what the costs should be for a particular level of production under normal, efficient operating conditions. Variable costs are costs that vary with the level of production, fixed costs are costs that do not vary with the level of production, and semi-variable costs are costs that have both fixed and variable components.

Costs That Reflect What Costs Should Be for the Units