Hello!
I have a question regarding cost standards:
"Which of the following is not true regarding the setting of cost standards:
1 - the level of production place an important role in determening the cost standards
2- cost standards should correspond to managers expectations under ideal conditions
3 - different firms and industries determing cost standards differently
4 - cost standards need to be periodically reviewed and revised."
Could you guys please explain why as well!
I have a question regarding cost standards:
"Which of the following is not true regarding the setting of cost standards:
1 - the level of production place an important role in determening the cost standards
2- cost standards should correspond to managers expectations under ideal conditions
3 - different firms and industries determing cost standards differently
4 - cost standards need to be periodically reviewed and revised."
Could you guys please explain why as well!