Which of the following is one of the reasons why companies use standard costs?

Question

Quizplus · Accepted Answer

Standard costs are used to help make budgeting easier and more efficient by providing a predetermined cost for each unit of product or service. This allows for easier budgeting and can help companies identify areas where they can cut costs and improve efficiencies. While standard costs can also help with other aspects of business operations, such as internal controls and financial record-keeping, the primary reason for their use is to streamline the budgeting process.

Which of the Following Is One of the Reasons Why