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Which of the following statement(s) regarding the use of standard costs in rapidly
changing environments is/are true?(1) Variance analysis results will take into account important criteria such as customer
satisfaction or quality of production.(2) Achieving standards is suitable in most modern manufacturing environments.
ANS: NEITHER STATEMENT IS CORRECT
________________________________________________________________Hello respective Tutor!
I am agree that 2nd statement is not true but why the statement 1 in not correct too ?
Could you please explain ?Variance analysis only looks at financial performance (comparing actual costs with standard costs etc.). It does not consider non-financial measures such as customer satisfaction.
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