Which of the following describes a ‘basic standard’ within the context of budgeting?
A.
A standard which is kept unchanged over a period of time
B.
A standard which is based on current price levels
C.
A standard set at an ideal level, which makes no allowance for normal losses, waste and machine downtime
D.
A standard which assumes an efficient level of operation, but which includes allowances for factors such as normal loss, waste and machine downtime