Question

Which of the following best describes a standard?

A) a sales price, cost, or quantity that is expected under normal conditions
B) costs incurred to produce a product
C) budgeted amount for total product cost
D) actual sales price, cost, or quantities

Answer 1

A standard is best described as a sales price, cost, or quantity that is expected under normal conditions.

Step-by-step explanation:

A standard is best described as (A) a sales price, cost, or quantity that is expected under normal conditions. It represents the expected values that businesses anticipate in their day-to-day operations. For example, a company may set a standard sales price for a product based on market research and competition analysis.