c) $9,900 D) $9,570 74. What is a standard cost? A) The amount management thinks should be incurred to produce a good or service B) The total number of units times the budgeted amount expected C) Any amount that appears on a budget D) The total amount that appears on the budget for product costs 75. A common starting point in the budgeting process is A) expected future net income. B) to motivate the sales force. C) past performance. D) a clean slate, with no expectations. 76. The total direct labor hours required in preparing a direct labor budget are calculated using the A) production budget. B) sales forecast C) direct materials budget. D) sales budget. 77. Which one of the following is not a benefit of budgeting? A) It provides definite objectives for evaluating performance. B) It requires all levels of management to plan ahead on a recurring basis. C) It facilitates the coordination of activities. D) It provides assurance that the company will achieve its objectives. 78. Which of the following statements is false? A) A standard is a unit amount. B) A standard cost is more accurate than a budgeted cost. C) In concept, standards and budgets are essentially the same. D) The standard cost of a product is equivalent to the budgeted cost per unit of product