Asked by Evlyn Torgerson on Jun 09, 2024
Verified
Because accountants have financial expertise, they are the only ones that are able to set standard costs for the production area.
Standard Costs
Predetermined costs for the manufacturing of products or performing services under normal conditions, used as benchmarks to measure actual performance.
Accountants
Professionals who manage and analyze financial records to ensure accuracy and compliance with laws and regulations.
Financial Expertise
The knowledge and skills related to managing money, investments, and financial analysis, often essential for making informed business decisions.
- Determine the function of accountants and managers in establishing cost benchmarks.
Verified Answer
Learning Objectives
- Determine the function of accountants and managers in establishing cost benchmarks.
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