Types of Standards – NBC Institute

MI – Nov 2020 – L1 – SB – Q4a – Costing Techniques

Identify the purposes of standard costing systems and the types of standards used in management information.

Question

a. Standard costing systems are widely used because they provide cost information for many different purposes.

Required:
i. Identify FIVE of such purposes. (5 Marks)
ii. State THREE types of standards. (3 Marks)

Answer

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Tags: Budgeting, Cost Control, Standard Costing, Types of Standards
Level: Level 1

Topic: Costing Techniques
Series: NOV 2020

MA – Nov 2021 – L2 – Q2d – Standard Costing and Variance Analysis

Explain different types of standards used in performance measurement.

Question

d) Standards are predetermined measurable quantities, set on defined conditions against which actual performance can be compared, usually for an element of work, operation, or activity. Standards are unit concepts that apply to particular products, individual operators, or processes.

Required:
Explain TWO (2) types of standards. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Costing, Performance Measurement, Types of Standards
Level: Level 2

Topic: Standard Costing and Variance Analysis
Series: NOV 2021

MI – Nov 2020 – L1 – SB – Q4a – Costing Techniques

Identify the purposes of standard costing systems and the types of standards used in management information.

Question

a. Standard costing systems are widely used because they provide cost information for many different purposes.

Required:
i. Identify FIVE of such purposes. (5 Marks)
ii. State THREE types of standards. (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Budgeting, Cost Control, Standard Costing, Types of Standards
Level: Level 1

Topic: Costing Techniques
Series: NOV 2020

MA – Nov 2021 – L2 – Q2d – Standard Costing and Variance Analysis

Explain different types of standards used in performance measurement.

Question

Required:
Explain TWO (2) types of standards. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Costing, Performance Measurement, Types of Standards
Level: Level 2

Topic: Standard Costing and Variance Analysis
Series: NOV 2021

Question Tag: Types of Standards

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MI – Nov 2020 – L1 – SB – Q4a – Costing Techniques

Identify the purposes of standard costing systems and the types of standards used in management information.

MA – Nov 2021 – L2 – Q2d – Standard Costing and Variance Analysis

Explain different types of standards used in performance measurement.

MI – Nov 2020 – L1 – SB – Q4a – Costing Techniques

Identify the purposes of standard costing systems and the types of standards used in management information.

MA – Nov 2021 – L2 – Q2d – Standard Costing and Variance Analysis

Explain different types of standards used in performance measurement.

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Question Tag: Types of Standards

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MI – Nov 2020 – L1 – SB – Q4a – Costing Techniques

Identify the purposes of standard costing systems and the types of standards used in management information.

You're reporting an error for "MI – Nov 2020 – L1 – SB – Q4a – Costing Techniques"

MA – Nov 2021 – L2 – Q2d – Standard Costing and Variance Analysis

Explain different types of standards used in performance measurement.

You're reporting an error for "MA – Nov 2021 – L2 – Q2d – Standard Costing and Variance Analysis"

MI – Nov 2020 – L1 – SB – Q4a – Costing Techniques

Identify the purposes of standard costing systems and the types of standards used in management information.

You're reporting an error for "MI – Nov 2020 – L1 – SB – Q4a – Costing Techniques"

MA – Nov 2021 – L2 – Q2d – Standard Costing and Variance Analysis

Explain different types of standards used in performance measurement.

You're reporting an error for "MA – Nov 2021 – L2 – Q2d – Standard Costing and Variance Analysis"

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