Standard costs are established under operating plan assumptions which include: I$\quad $Volume of production activity
II$\quad $Just in time inventory management
III$\quad $Prices and quality of inputs
A) I and II only
B) I and III only
C) II and III only
D) I, II, and III

Question

Standard costs are established under operating plan assumptions which include: I$\quad $Volume of production activity 
II$\quad $Just in time inventory management 
III$\quad $Prices and quality of inputs
A) I and II only
B) I and III only
C) II and III only
D) I, II, and III

Quizplus · Accepted Answer

Standard costs are established based on assumptions about the volume of production activity and the prices and quality of inputs. Just in time inventory management is a method of inventory management and does not directly influence the establishment of standard costs.

Standard Costs Are Established Under Operating Plan Assumptions Which Include \quad

Standard Costs Are Established Under Operating Plan Assumptions Which Include $\quad$