Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The difference between a budget and a standard is that standards are excluded from the cost accounting system while budgets are generally incorporated into the
The difference between a budget and a standard is that
standards are excluded from the cost accounting system while budgets are generally incorporated into the cost accounting system.
a budget expresses a total amount while a standard expresses a unit amount.
a budget expresses management's plans while a standard reflects what actually happened.
a budget expresses what costs were while a standard expresses what costs should be
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started