After the completion of production,standard and actual costs are compared to determine the ____ of the production process.

Question

Quizplus · Accepted Answer

The comparison between the standard and actual costs in production is done to determine the efficiency of the process, as it helps to identify any variances and inconsistencies in the production process. This allows for adjustments to be made to improve the efficiency of the production process, enabling the company to reduce costs and increase profitability.

After the Completion of Production,standard and Actual Costs Are Compared