qz11 - Correct universities allofthese Correct

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Correct.     Standard costs may be used by universities. governmental agencies. charitable organizations. all of these Correct.     If standard costs are incorporated into the accounting system, it can eliminate the need for the budgeting process. the accounting system will produce information that is less relevant than the historical cost  accounting system. it may simplify the costing of inventories and reduce clerical costs. approval of the stockholders is required Correct.     The most rigorous of all standards is the normal standard. ideal standard. realistic standard. conceivable standard Correct.     A managerial accountant 1. does not participate in the standard setting process. 2. provides knowledge of cost behaviors in the standard setting process. 3. provides input of historical costs to the standard setting process. 3 2
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2 and 3 1 Correct .     The direct labor quantity standard is sometimes called the direct labor quality standard. volume standard.
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This note was uploaded on 11/07/2011 for the course ACCOUNTING 560 taught by Professor Alper during the Fall '09 term at Strayer.

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qz11 - Correct universities allofthese Correct

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