Standard costs should be reviewed:
A) Daily
B) Monthly
C) Annually
D) As often as managers and accountants deem necessary

Question

Quizplus · Accepted Answer

Standard costs need to be reviewed as often as managers and accountants deem necessary because the frequency can vary depending on the business environment, changes in production processes, material costs, labor rates, and other factors that can affect standard costs. There is no one-size-fits-all answer; it depends on the specific circumstances of each company.

Standard Costs Should Be Reviewed