Multiple Choice QuestionCosts developed which identify what products should cost are calledMultiple choice question.standard costs.product costs.actual costs.

The correct answer is "standard costs".

Step 1: Understand the question. The question is asking for the type of costs that are developed to identify what products should cost.

Step 2: Analyze the options.

• Standard costs: These are estimated costs of production. They are used as a benchmark to compare with the actual costs of production.

• Product costs: These are the costs directly associated with the production of a product. They include direct materials, direct labor, and manufacturing overhead.

• Actual costs: These are the real costs that a company incurs during production.

Step 3: Choose the correct answer. In this case, the costs that are developed to identify what products should cost are called "standard costs". This is because standard costs are used as a benchmark or standard to compare with the actual costs of production.