Asked by
Christina Nguyen
on Nov 17, 2024Verified
In most businesses, cost standards are established principally by accountants.
Cost Standards
Cost standards refer to pre-determined costs for products, operations, or projects, used as benchmarks for measuring actual performance or costs.
Accountants
Professionals who perform accounting, auditing, and other financial operations for businesses or individuals.
- Identify the role of accountants and managers in setting cost standards.
Verified Answer
UB
Learning Objectives
- Identify the role of accountants and managers in setting cost standards.