Business Studies · Standard Costing
What is an attainable standard in cost accounting?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A standard which includes no allowance for losses, waste and inefficiencies, representing perfect operating conditions
- 2A standard which includes some allowance for losses, waste and inefficiencies, representing performance under efficient operating conditions✓
- 3A standard which is based solely on past average performance regardless of changes
- 4A standard which is kept completely unchanged over many years to show the trend in costs
Correct answer
A standard which includes some allowance for losses, waste and inefficiencies, representing performance under efficient operating conditions
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