Economics · Cost Accounting
Assertion (A): Standard costing is used as an effective tool for cost control by comparing actual costs with predetermined standard costs. Reason (R): Variance analysis helps management identify deviations between actual performance and standard performance and take corrective actions.
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- 1(A) is false but (R) is true
- 2(A) is true but (R) is false
- 3Both (A) and (R) are true but (R) is not the correct explanation of (A)
- 4Both (A) and (R) are true and (R) is the correct explanation of (A)✓
Correct answer
Both (A) and (R) are true and (R) is the correct explanation of (A)
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