Which of the following statements regarding standard costs is false? Select one: a. Standard costs can be used by management to assess the reasonableness of actual costs. o b. Managerial accountants, engineers, personnel administrators, purchasing managers, and production managers work together to set standard costs. c. Regardless of the care used in setting standards costs and in revising them as conditions change, actual costs frequently differ from standard costs. o d. Standard costs are used in the calculation of both price and quantity variances. e. None of the above statements is false