In most companies, machines break down occasionally and employees are often less than perfect. Which type of standard acknowledges these characteristics when determining the standard cost of a product? a. Practical standard b. Efficiency standard c. Budgeted standard d. Ideal standard

In most companies, machines break down occasionally and employees are often less than perfect. Which type of standard acknowledges these characteristics when determining the standard cost of a product? a. Practical standard b. Efficiency standard c. Budgeted standard d. Ideal standard

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter15: Lean Accounting And Productivity Measurement

Section: Chapter Questions

Problem 25P: Continuous improvement is the governing principle of a lean accounting system. Following are several...

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Subject - GENERAL ACCOUNT

In most companies, machines break down occasionally and employees
are often less than perfect. Which type of standard acknowledges these
characteristics when determining the standard cost of a product?
a. Practical standard
b. Efficiency standard
c. Budgeted standard
d. Ideal standard

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