The costs normally required to manufacture a product, which are calculated from historical costs and any changes from that, are known as ____
a. standard costs c. known costs
b. abbreviated costs d. estimated costs
A
Standard costs are the normal costs of manufacturing a product; standard costs are calculated from historical data, factoring in any changes in manufacturing that have occurred since the collection of the historical data.
Business
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Indicate whether the statement is true or false
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A) a floating exchange rate adjusts upward. B) a floating exchange rate adjusts downward. C) a fixed exchange rate is adjusted upward. D) a fixed exchange rate is adjusted downward.
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