Standard costs are divided into which of the following components?
A)variance standard and quantity standard
B)materials standard and labor standard
C)standard quality and standard quantity
D)standard price and standard quantity

Question

Quizplus · Accepted Answer

Standard costs are typically divided into two main components: standard price, which refers to the cost per unit of input (e.g., per pound, per hour, etc.), and standard quantity, which refers to the amount of input allowed for a unit of output (e.g., materials per product, labor hours per unit, etc.).

Standard Costs Are Divided into Which of the Following Components