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Select all that applyWhich of the following are advantages to using a standard cost system? (Check all that apply.)
Standards can provide benchmarks that can be used by individuals to judge their own performance.
Too much emphasis on standards can impede other objectives.
Standards provide feedback that can reduce employee morale.
Standard costs can simplify bookkeeping.
Standards can provide benchmarks that can be used by individuals to judge their own performance.
Standard costs can simplify bookkeeping.

Respuesta :

The advantages to using a standard cost system will be standard costs can simplify bookkeeping, standards can provide benchmarks that individuals use to judge their own performance.

Standard cost systems make use of standard costs, which are the budgeted or estimated costs deemed to be necessary to manufacture a single unit of product or perform a single service. Standards are traditionally established for each component (material, labor, and overhead) of product cost.

Standard cost accounting is a traditional cost accounting method introduced in the 1920s, as an alternative for the traditional cost accounting method based on historical costs

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