The Raw Materials Inventory account is must be considered when calculating the amount of materials to be purchased

Which one of the following is a false statement regarding the setting of work standards?

A. They should be set where they are acceptable to employees. B. They should not be set at such a low level that only the most efficient, productive employees can attain. C. They should be set at a level attainable by few employees. D. They should be set at a level that provides a sufficient incentive for the employee to perform well but also at a level where the average employee can be reasonably successful.

Identify and define each of the four general types of cost classifications used with activity-based costing (ABC)