The term standard cost refers to the:
A. average unit cost of product produced in the previous period
B. budgeted unit cost of product produced in a particular period
C. average unit cost of product produced by other companies
D. average unit cost of product produced in the current period
A. average unit cost of product produced in the previous period
B. budgeted unit cost of product produced in a particular period
C. average unit cost of product produced by other companies
D. average unit cost of product produced in the current period