All of the following are advantages of using standard costs and variances except A. standard costs establish benchmarks managers use to judge actual costs. B. the timeliness that occurs when variances are computed once each month. C. standard costs and benchmarks are useful tools that managers use as a basis for creating the master budget. D. standard costing systems simplify the bookkeeping process.

Question

Matias Schwartz

Business

9 November, 02:58

All of the following are advantages of using standard costs and variances except A. standard costs establish benchmarks managers use to judge actual costs. B. the timeliness that occurs when variances are computed once each month. C. standard costs and benchmarks are useful tools that managers use as a basis for creating the master budget. D. standard costing systems simplify the bookkeeping process.

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Starr · Answer 1

B

Explanation:

Standard cost is the finding of a suitable cost standard to determine the price of a commodity in a away that profit will be maximized, which also involves a regular periodic review to establish a change in the pattern called variance and the reason for the variance investigated.

It's common dis advantage is being time consuming and expensive as much labor are required.

Therefore, it does not support timeliness