In the notes, you discuss the difference between ideal, basic, EXPECTED and current standards. In past paper answers, these are described as basic, ideal, current and ATTAINABLE . Are attainable and expected standards referring to the same topic? In your notes, expected standards are referred to as 'easy' targets however the definition is different in past paper answers. Would appreciate a clarification. Thank you for your excellent lectures!
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Types of Standards used in Standard Costing
5y ago#1I certainly do not say that expected standards are easy targets - I in fact say that they may be too easy to be used as a target, which is not the same thing.
As I also explain, the current standards will be the current attainable standards (i.e. what can be expected to be achieved).
Thanks for clarifying!
5y ago#3You are welcome :-)
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