Posted: March 25th, 2017

Once standard costs for products or services have been developed: a) they must be updated monthly to be useful b) they can be used for more than planning and control purpose c) they need not be revised unless the product or service is modified

Once standard costs for products or services have been developed:
a) they must be updated monthly to be useful
b) they can be used for more than planning and control purpose
c) they need not be revised unless the product or service is modified
d) performance reports must be issued if the standards are to be useful