Question

A standard costing system is the traditionally used costing system. It has two main purposes: cost control and product costing. Standard costs are determined by accountants working together with other employees of the organization. Which employees outside of accounting do you think should be an integral part of setting the standard costs for products?

Related Questions

1-How does an actual system differ from a normal costing systems? What advantages does a normal cos... Mills Company uses standard costing for direct materials and direct labor. Management would like to... I'm not sure how to do this: There are 9 people who are going to see a movie. The total cost for... Krollon Company uses the FIFO method in its process costing system. The following data are for the m...