Chapter 8, Problem 22QS

To determine

Standard Costs:

A standard cost is a uniform benchmark cost that is anticipated to be incurred while manufacturing the product. A standard cost establishes a control over incurring of expenses by standardizing the ideal cost for a particular overhead, so that there is always a scope of keeping the track of expenses and minimize wastage of funds over the period of time.

Sustainability Improvement:

Sustainability improvement is the way of analyzing the outputs generated by the variances occurring in the business and taking corrective measures to fix them efficiently, while minimizing the extra costs incurred. The sustainability improvement tends to move the business by taking appropriate measures to minimize costs and thrive for sustainable development in the long run by altering any improving their policies and procedures.

Amount of total direct material costs in flexible budget and, sustainable improvement to save direct materials costs.