Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The standard price and quantity of direct materials are separated for which reason? A)GAAP and IFRS reporting standards require separation. B)Direct materials prices are controlled

The standard price and quantity of direct materials are separated for which reason?

A)GAAP and IFRS reporting standards require separation.

B)Direct materials prices are controlled by the purchasing department, and quantity used is controlled by the production department.

C)Standard prices are more difficult to estimate than are standard quantities.

D)Standard quantities change more frequently than do standard prices.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial And Managerial Accounting El Camino College Edition

Authors: Haka Bettner Carcello Williams

1st Edition

0077838246, 978-0077838249

More Books

Students also viewed these Accounting questions

Question

=+ 2. What is the main advantage of this approach?

Answered: 1 week ago