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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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A currently attainable standard is one that

  1. a. relies on maximum efficiency.
  2. b. uses only historical experience.
  3. c. is based on ideal operating conditions.
  4. d. can be easily achieved.
  5. e. None of these.

To determine

Identify the statement with respect to currently attainable standard.

Explanation

Currently Attainable Standards:

The standards achievable in an efficient operating environment with normal amount of breakdowns, delays, and skills less than perfection are known as currently attainable standards. Firms often demand these standards to be achieved.

a.

Maximum efficiency is required in ideal standards. Therefore, option a is incorrect.

b.

Historical experience can be inefficient and are not considered in currently attainable standard...

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