The standard quantity of input used for achieved output, which is multiplied to standard prices, to calculate variable direct manufacturing cost in __________?
Correct answer: B. standard costing
- A. output costing
- B. standard costing
- C. achieved costing
- D. input costing
Explanation
In standard costing, the standard quantity allowed for the actual output is multiplied by the standard price to determine the standard cost of input. This is why the measure belongs to standard costing.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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