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Under which method of material pricing is the cost of materials issued based on a predetermined standard price?
  • a)
    FIFO Method
  • b)
    LIFO Method
  • c)
    Weighted Average Cost Method
  • d)
    Standard Cost Method
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Under which method of material pricing is the cost of materials issued...
The Standard Cost Method involves pricing materials based on a predetermined standard price set by management before the actual material costs are known. This method provides consistency in material pricing and allows for straightforward cost comparisons.
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Under which method of material pricing is the cost of materials issued based on a predetermined standard price?a)FIFO Methodb)LIFO Methodc)Weighted Average Cost Methodd)Standard Cost MethodCorrect answer is option 'D'. Can you explain this answer?
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