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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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The underlying details for the standard cost per unit are provided in

  1. a. the standard work-in-process account.
  2. b. the standard production budget.
  3. c. the standard cost sheet.
  4. d. the balance sheet.
  5. e. None of these.

To determine

Identify the document which provides details of standard cost per unit.

Explanation

Standard Cost Sheet:

A document which lists the standards quantities and costs of direct expenses of production such as material, labor, and overhead to be applied to a single unit of production is known as standard cost sheet.

c.

A standard cost sheet includes quantities and costs of standard direct materials, standard direct labor, and standard overhead to be incurred in the production of a single unit. Therefore, option c is the correct answer.

a.

Standard work-in-process account is related to the units which are still in the production process...

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