Question

A(n) ________ is a carefully predetermined cost that is usually expressed on a per unit basis....

A(n) ________ is a carefully predetermined cost that is usually expressed on a per unit basis.
A) allocated cost
B) applied cost
C) standard cost
D) flexible cost

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Answer #1

Option C is correct

A Standard Cost is a carefully predetermined cost that is usually expressed on a per unit basis.

The following are the main observations

> Standard cost is mainly used in Manufacturing industries

> It is predetermined or forecasted or expcted per unit cost of production

> It majorly includes all direct expenses related to production such as direct materials, direct labour and direct expenses

Allocated Cost -The over head amount allocated for production with pre determined basis

Applied cost - application of over head cost with pre determined basis

Flexible Costs - These costs can be reduced, increase or can be eliminated unlike standard cost

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