Which of the following best defines standard costing? O A It is the same as actual costing but done in real time OB is as that o v erhead costs on the basis of standard overhead cost estimes the actual quantities of the location based used. OC is a system that traces direct cost to outout by multiplying actual process or rates by actual quants of inputs locates overhead by on the basis of actual quantities of the allocation base used OD. It is a system that traces direct costs to output produced by multiplying the standard prices or rates by the standard quantities of inputs allowed for the actual output produced