Question

Standard cost are which cost ​

Answer 1

Answer:

Standard costs are also known as “pre-set costs”, “predetermined costs” and “expected costs”. At the end of the year (or accounting period) if the standard costs are higher than the actual expenses, than the company is considered to have a favorable variance.

Answer 2

Standard costs are also known as “pre-set costs”, “predetermined costs” and “expected costs”. At the end of the year (or accounting period) if the standard costs are higher than the actual expenses, than the company is considered to have a favorable variance.