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Standard costs have which of the following characteristics? (Check all that 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
C. Used in preparing fixed budgets

Respuesta :

Answer: A, B, and C (not the developing or manufacturing ones)

Explanation:

The standard cost contains the features that are included it depend upon the past experience, it is used for preparing the flexible budgets and fixed budgets.

What are Standard costs?

It is the cost where the company should develop at the starting of the year with respect to the price paid and the amount that should be used. It is the amount that should be paid for the labor rate or the cost of the material.

Therefore, we can say that The standard cost contains the features that are included it depend upon the past experience, it is used for preparing the flexible budgets and fixed budgets.

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