Question

The type of costing which is most suitable for cost control purposes is

• A. Post costing
• B. Marginal costing
• C. Continuous costing
• D. Standard costing

Answer 1

Answer: (D)

Standard costing

A standard costing system is a tool used for planning budgets, managing and controlling costs, and evaluating cost management performance. A standard costing system involves estimating the required costs of a production process.