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What a primary purpose of using a standard cost system is

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Reference no: EM132687919

Problem 1. A primary purpose of using a standard cost system is

a. to make things easier for managers in the production facility.

b. to provide a distinct measure of cost control.

c. to minimize the cost per unit of production.

d. b and c are correct.

Problem 2. The standard cost card contains quantities and costs for

a. direct material only.

b. direct labor only.

c. direct material and direct labor only.

d. direct material, direct labor, and overhead.

Problem 3. In a standard cost system, Work in Process Inventory is ordinarily debited with

a. actual costs of material and labor and a predetermined overhead cost for overhead.

b. standard costs based on the level of input activity (such as direct labor hours worked).

c. standard costs based on production output.

d. actual costs of material, labor, and overhead.

Reference no: EM132687919

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