Answer: c. used to indicate where changes in technology and machinery need to be made
Explanation: Standard costs are defined as predetermined costs that provides a basis for effective control over costs and usually is associated with a manufacturing company's costs of direct material, direct labor, and manufacturing overhead. It provides information on the day-to-day control of operations and are applied for a variety of reasons such as the control of costs, estimation of inventory costs, the planning of direct materials, direct labor, and variable factory overhead.
