COST ACCOUNTING
FLEXIBLE BUDGETS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
What is the difference between standard and normal costing?
|
|
Standard costing uses actual hours, normal costing uses standard allowed hours
|
|
|
Quantity of hours used
|
|
|
No difference
|
Explanation:
Detailed explanation-1: -The key difference between normal costing and standard costing is that normal costing employs actual costs for materials and direct labor, while standard costing uses predetermined costs for both of these items.
There is 1 question to complete.