A standard cost for production inputs is a carefully predetermined cost that usually is expressed on a per-unit basis.

Name: A standard cost for production inputs is a carefully predetermined cost that usually is expressed on a per-unit basis.
Brand: Quizplus
Rating: 4.9 (52 reviews)

Question

Quizplus · Accepted Answer

A standard cost is indeed a predetermined cost that is usually expressed on a per-unit basis. It is used by businesses to help control costs and measure performance by comparing actual costs to the predetermined standard costs.

A Standard Cost for Production Inputs Is a Carefully Predetermined