Standards that can be attained only under the best circumstances are referred to as:

Related MCQs

• In what circumstances might a company be prepared to price a special contract at less than its relevant cost?
• Which of the following is true of standards?
• To produce a particular batch of product, Falcon Corporation paid its workers 12.00 per hour for 4,000 hours of work. The standards for the quantity of work represented by the batch were 12.50 per hour and 4,400 hours. What was the labour efficiency variance?
• A standard that represents the most likely scenario can be referred to as the:
• Which management accounting technique is sometimes referred to as super variable costing?
• Which of the following is the best explanation of the relevance of equivalent production units in process costing?
• What term best describes the use of both financial and non-financial measures in assessing whether an entity has achieved its objectives?
• Which of the following best describes a fixed cost?
• For a library the best method of costing suitable is-----------
• For hotels the best method of costing is----------