Question 12

A standard cost is:

Question 12 options:

a)	The actual quantities of material and labor multiplied by the costs of material and labor

b)	The standard quantities of material and labor multiplied by the costs of material and labor expressed per unit

c)	The standard quantities of material and labor multiplied by the costs of material and labor

d)	The actual quantities of material and labor multiplied by the costs of material and labor

Question 13

Goods that have begun the production process but which have not yet been completed are:

Question 13 options:

a)	Raw materials

b)

Inventory

c)	Work in progress

d)	Finished goods