Question: Practical standards a . are rigorous and not attainable. b . are the standards generally used in a master budget. c . reflect normal operating

Practical standards
a. are rigorous and not attainable.
b. are the standards generally used in a master budget.
c. reflect normal operating conditions and allow for some inefficiency.
d. will always motivate employees to achieve the maximum output.

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 Accounting Questions!

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:

Activity #4 - Advantages and Disadvantages of using Standard Costs and Variances Which of the following items are advantages of using a standard cost system? A. Cost benchmarks: An advantage of...

Q:

Please show your work. A B C D E F G H J K L M N o F 1 Q1: 2 An important task in performing business valuations is normalizing the historical financial statements. (a). Using the information...

Q:

On the profitability side, you should specifically address the following points: a) Is the cost structure of the two companies similar or different? Does the cost structure reflect their respective...

Q:

Just need answers to check my work. I don't need any work shown. Setting Standards, Materials and Labor Variances Tom Belford and Tony Sorrentino own a small business devoted to kitchen and bath...

Q:

Just need answers to check my work. I don't need any work shown. Setting Standards, Materials and Labor Variances Tom Belford and Tony Sorrentino own a small business devoted to kitchen and bath...

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:

Standard Cost and Variance Analysis Complete this matrix by providing reasons why you agree and disagree with each of the following author?s statements (shown on page 17 of the ?Standard Cost and...

Q:

Standard Cost and Variance Analysis Complete this matrix by providing reasons why you agree and disagree with each of the following author?s statements (shown on page 17 of the ?Standard Cost and...

Q:

I am having trouble completing this matrix. Chapter I 3 Standard Cost and Variance Analysis 'Tonifh we will uncinpt tn aiuwcr hive memphvsiral qiiestitmK: I. How did ihv imiver^e come to be? 2....

Q:

You are evaluating a new project. The project has revenues of $100k per year, and operating costs of $40k per year, both paid at the end of the year. There are no taxes. The project also requires an...

Q:

An astronaut holds a rock 100 m above the surface of Planet X. The rock is then thrown upward with a speed of 15 m/s, as shown in the figure. The rock reaches the ground 10 s after it is thrown. The...

Q:

1 . Our business is projected to grow at 1 0 % , 8 % and 6 % in the 3 - year forecast period and then this growth will transition to 3 % in the continuing value period. During these years, the three...

Q:

Describe how total variable costs and unit variable costs behave with changes in the level of activity. If fixed costs increase, what would be the impact on the contribution margin and income from...