Management Accounting Test Questions

Q.  Which of the following statements are true about Estimated Costs and Standard Costs?

a. Standard costs are based on scientific analysis and engineering studies while estimated costs are based on historical
b. Standard cost emphasis is on ‘what cost will be’ while estimated costs emphasis is on ‘What cost should be’
c. Standard costs are more frequently revised compared to estimated costs
d. Estimated costs are more stable than standard costs


ANSWER: See Answer
 
No explanation is available for this question!