Standard material, labor, and overhead costs can be obtained from standard cost tables published by the Institute of Management Accountants.

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Quizplus · Accepted Answer

Standard material, labor, and overhead costs are typically developed by individual companies based on their own production processes, efficiency levels, and cost structures. There are no standard cost tables published by the Institute of Management Accountants for this purpose.

Standard Material, Labor, and Overhead Costs Can Be Obtained from Standard