Question

Standard costs are used for external reporting
true or false

Learning curve is naturally occurring human phenomenon
true and false​

Answer 1

Answer:

true

Explanation:

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Answer 2

Standard costs are used for external reporting - False

Learning curve is naturally occurring human phenomenon - True

• The accounting method of cost is implemented internally to accurately describe the variable and overall explicit prices adhering to the manufacturing process.
• Standard costs are a part of cost accounting, and the management first individually calculates and report these costs, then compare production costs to output outcomes to help measure financial results and make potential business choices.
• Learning Curve is described as the amount of time and effort taken to develop a new skill set or to acquire knowledge of a specific topic. It is a human phenomenon that happens naturally and can be used to better understand success and the learning process.