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zubka84 [21]
3 years ago
9

Standard costs have which of the following characteristics? (Check all that apply.)

Business
1 answer:
Minchanka [31]3 years ago
7 0

Answer:

The following Apply :

A. Based on past experience and data Developed by the SCAB (Standard Cost Accounting Board

B. Used in preparing flexible budgets Useful for manufacturing companies, but not service companies

Explanation:

Standard Cost set levels of Costs and Revenues that ought to be achievable when reasonable levels of performance are attained together with working practices to manufacture a product.

Data is obtained from past experience and used to prepared flexible budgets for control purposes.

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A company's beginning Equipment account is $100,000. It purchased $10,000 of new equipment and sold $4,000 of its equipment duri
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The company's ending Equipment balance equals a $106,000 balance.

<h3>Ending Equipment balance</h3>

Using this formula

Ending Equipment balance= Beginning Equipment balance+New equipment- Ending Equipment balance

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