Final answer:
In a world-class manufacturing environment, accounting emphasizes standard cost and variance analysis is true to identify deviations from the planned costs.
Step-by-step explanation:
The statement is True.
In a world-class manufacturing environment, accounting emphasizes standard cost and variance analysis. Standard cost is the predetermined and planned cost of a product, service, or activity, while variance analysis involves comparing actual costs to standard costs to identify deviations and take corrective actions.
For example, if the actual cost of producing a product is higher than the standard cost, it indicates a negative variance, and the company can investigate the reasons behind it, such as inefficiencies in the production process or unexpected cost increases. By analyzing these variances, companies can improve their manufacturing processes, reduce costs, and enhance overall performance.