Find Cost account answer Standard costs:a. are imposed by governmental agencies.b. are predetermined units costs which companies use as measures ofperformance.c. can be used by manufacturing companies but not by service or not-for-profit companies.d. all of these.

Standard costs are predetermined estimates of the costs of producing goods or services, and they are…

Answered: Standard costs: a. are imposed by…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 2EA: For the following descriptions state whether the cost is controllable or uncontrollable by...

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Similar questions

Internal costs that are charged to the segments of a business are called_______. A. controllable costs B. variable costs C. fixed costs D. allocated costs
GENERAL ACCOUNT
Provide general account answer
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The income statement of a service-sector firm reports: both period and inventoriable costs a O inventoriable costs only .b O period costs only .R period and inventoriable costs but at different times; the reporting varies dO
The value chain is the sequence of business functions in which A. usefulness is added to the products or services of an organization B. producing and delivering the product or service is of prime importance C. value is deducted from the products or services of an organization D. products and services are evaluated with respect to their value to the supply chain A contribution margin income statement is an income statement that groups costs into their variable and fixed components. True False
Practice 2: a: Define standard costs. b: under what conditions should previously established standard costs be revised? c: explain why the determination of standard cost amounts should not be the sole responsibility of a company's cost accountant.
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Kindly answer questions 1-3: 1.) Discretionary costs are costs that must be incurred because of past decision, contractual agreement, and government regulations. a. true b. false 2.) Product costs: a. are always expensed in the same period in which they are incurred. b. are inventoriable costs. c. vary directly with changes in cost driver. d. are always charged to an asset account in the same period in which they are incurred. 3. Controllable costs are cost items which can be regulated depending on the level of management one is in. a. True b. False b. False
Which of the following is not a reason for banks to use activity- based costing? C a. to determine profitability of services provided Ob. to determine service quality c. to determine the amounts charged to customers for services provided Od. all of the above
Which of the following is not a reason for banks to use activity-based costing? Oa. to determine service quality Ob. to determine profitability of services provided Oc. to determine the amounts charged to customers for services provided Od. all of the above
Which of the following statements is true? (You may select more than one answer.)a. A common cost is one type of direct cost.b. A sunk cost is usually a differential cost.c. Opportunity costs are not usually recorded in the accounts of an organization.d. A particular cost may be direct or indirect depending on the cost object.

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Standard costs: a. are imposed by governmental agencies. b. are predetermined units costs which companies use as measures of performance. c. can be used by manufacturing companies but not by service or not-for- profit companies. d. all of these.