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Compute the estimates for a stande cost and a budgeted cost

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Question :

Distinguish between a standard and a budget. Lopez Company uses both standards and budgets. For the year, estimated production of Product X is 500,000 units. Total estimated cost for materials and labor are $1,400,000 and $1,700,000.

Compute the estimates for (a) a stande cost and (b) a budgeted cost.

Reference no: EM132318369

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