Question: Historical experience should be used with caution in setting standards because: a. most companies keep poor records. b. ideal standards are always better than historical

Historical experience should be used with caution in setting standards because:

a. most companies keep poor records.

b. ideal standards are always better than historical standards.

c. they may not be achievable by operating personnel.

d. they may perpetuate operating inefficiencies.

e. none of the above.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Introductory Financial Accounting Questions!

Q:

David R. and Ella M. Cole (ages 39 and 38, respectively) are husband and wife who live at 1820 Elk Avenue, Denver, CO 80202. David is a self-employed consultant, specializing in retail management and...

Q:

Historical experience should be used with caution in setting standards because a. most companies keep poor records. b. ideal standards are always better than historical standards. c. they may not be...

Q:

Multiple Choice Questions 1. Historical experience should be used with caution in setting standards because a. Most companies keep poor records. b. Ideal standards are always better than historical...

Q:

Multiple Choice Questions 1. Historical experience should be used with caution in setting standards because a. They may perpetuate operating inefficiencies. b. Ideal standards are always better than...

Q:

To be solved by DKetan. Using Chapter 7 of your text as a reference, define a standard cost and explain what constitutes the components of a standard cost. Describe the advantages and disadvantages...

Q:

\fNew research suggests that the most effective executives use a collection o f distinct leadership styles each in the right measure, at just the right time. Such flexibility is tough to put into...

Q:

RUNNING HEAD: Wal-Mart Stores, Inc. Consulting Report Wal-Mart Stores, Inc. Consulting Report Sarah Honeycutt December 11, 2016 Southern New Hampshire University OL 690 Responsible Corporate...

Q:

summarise that article and make it to 2000 words Your report should clearly contain 4 main Parts: Introduction, Literature Review, Result and Analysis, Conclusion. The Challenge of Setting Standards...

Q:

I would like someone to please summarize the following 5 pages (304-308) into 1 page 304 K. Camfferman and S.A. Zeff but reinforcing our suggestion in Section 4.2 we propose that academic researchers...

Q:

Through the use of strategic alternatives, companies may compete in a marketplace, achieve its vision, or if no vision has been articulated, decide where it might go and what it might achieve....

Q:

Due to the changing environment and external triggers, contingency planning is necessary. What qualities make a future issue a ?trigger?? Consider you are on the strategic planning team for a soft...

Q:

You wish to buy a brand new 2021 Honda Accord. To make this purchase possible, you will need to borrow $31,000 from the bank at 6% for five years (payments are to be made monthly, of course). What...

Q:

Name five categories that you usually find on a DBMS evaluation and selection checklist.

Q:

Dowell Fishing Supply, Incorporated, sold $ 5 0 , 0 0 0 of Dowell Rods on December 1 5 , 2 0 2 4 , to Be becklog. Dowell held the inveritary in Dowells werehouse until Jomuary 1 2 . 2 0 2 5 gheving...

Q:

Non-measurable sets (2). Consider on \(X=\mathbb{R}\) the \(\sigma\)-algebra \(\mathscr{A}:=\left\{A \subset \mathbb{R}: Aight.\) or \(A^{c}\) is countable \} from Example 3.3 (v) and the measure...

Q:

Explain the difference between physical units and equivalent units.

Q:

Explain the concept of equivalent units assuming the weighted average method is used.

Q:

Explain why direct materials, direct labor, and overhead might be at different stages of completion at the end of a reporting period.

Q:

Required information [The following information applies to the questions displayed below.] Doyle Company issued $320,000 of 10-year, 7 percent bonds on January 1, Year 1. The bonds were issued at...

Q:

uilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,800 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene...

Q:

Required information Use the following information for Exercises 17-18 below. (Algo) [The following information applies to the questions displayed below.] The transactions of Belle Co.'s appear...