Question

standard costs: group of answer choices are predetermined unit costs which companies use as measures of performance. should always be set at the ideal level. are not used in performance management can be used by manufacturing companies but not by service companies.

Answer 1

Standard costs are predetermined unit costs that companies use as measures of performance. They are set at an ideal level and can be used by both manufacturing and service companies.

Step-by-step explanation:

Standard costs are predetermined unit costs that companies use as measures of performance. They are set at a level that is considered ideal for the company. These costs are used as a benchmark to evaluate the actual costs incurred by the company.

Standard costs are commonly used in manufacturing companies, but they can also be used by service companies. However, the specific cost components may vary depending on the nature of the service provided.