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Which of the following is NOT a component of a standard cost system?

Practice Questions

1 question
Q1
Which of the following is NOT a component of a standard cost system?
  1. Direct materials standard
  2. Direct labor standard
  3. Variable overhead standard
  4. Actual cost incurred

Questions & Step-by-step Solutions

1 item
Q
Q: Which of the following is NOT a component of a standard cost system?
Solution: Actual cost incurred is not a component; standard costs are predetermined.
Steps: 0

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