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The following are some of the purposes of standard costing. TRUE or FALSE?

i. Standard costing provides a consistent base whereby performance may be measure . ii. It provides a method whereby labor and overhead can be consistently recovered and charged to stock i It provides a basis of control for buying, usage and efficient work levels iv It motivate staff and operatives to achieve /better the standard laid down through creating a realistic target v It creates an atmosphere of cost consciousness amongst all levels, through motivating staff and workers

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Question added by Musa Muhammad Dandikko , Ag. Head of Procurement , Federal College of Education, Katsina
Date Posted: 2013/11/10
Khalid Noor
by Khalid Noor , Accounting Manager , FedEx

Alll seems correct except (ii)

mukkur srinivasan varadhan
by mukkur srinivasan varadhan , Chartered Accountant , Chartered Accountant in practice

As per the above options,all except  ii

Khaled Abdelrehim ACCA DipIFR CMA
by Khaled Abdelrehim ACCA DipIFR CMA , Financial Analysis Assistant General Manager , Khalda Petroleum Company

All are true.

georgei assi
by georgei assi , مدير حسابات , المجموعة السورية

True

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