AASB102 Inventories contains guidance for all accountants on how to account for inventories.

Which of the following relate specifically to manufacturing costs and are specified in this standard?

a.

Standard costing must be used by all manufacturing companies as it is the most understandable and can also be used for pricing decisions

b.

All companies with continuous production line must use process costing to average all production costs

c.

Activity based costing is now specified as the only accurate way to account for production costs in manufacturing companies

d.

Absorption costing MUST be used to aggregate all costs of production into the product cost and held on the balance sheet until the goods are sold