Question

Click to watch the Tell Me More Learning Objective 1 video and then answer the questions below. 1. Which of the following is true of currently attainable standards? a. It demands maximum efficiency and assumes that there will be no inefficiency. b. It offers less behavioral benefits as compared to ideal standards. c. It can be achieved only if everything operates perfectly. d. It can be achieved under efficient operating conditions. 2. Which of the following is an advantage of standard product costing? a. It ensures that the actual product cost does not exceed standard cost of production. b. It helps to accurately calculate the unit cost for each equivalent unit in process costing. C. It helps to distinguish between FIFO and weighted average methods of accounting for beginning inventory costs. d. It provides readily available unit cost information that can be used for pricing decisions at any time throughout a period. 3. Which of the following is true of standard quantity of materials allowed? a. It is the product of unit quantity standard and actual output. b. It is the product of unit quantity standard and standard output. c. Iris the product of actual unit quantity and actual output. d. It is the product of actual unit quantity and standard output 4. Diamond Motors Corp. manufactures heavy motor vehicles. During a month, it manufactured 15,000 vehicles. Each vehicle used an avera direct labor hours and 2.5 sheets of aluminum. It normally manufactures 7,000 vehicles in a month. Materials and labor standards for making vehicles are: $10.00) $10.00 Direct Materials (1 sheet of aluminum Previous Ne Check My Work 1 more Check My Work uses remaining Submit Test for All work saved SN H

Answer 1

Answer:

1. (d) It can be attained under achieved under efficient operating conditions.

2. (d) It provides readily available unit cost information that can be used for pricing decisions at any time throughout a period.

3. (a) It is a product of unit quantity standard and actual output.

4.(c) 90,000 hoursstand