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How and why standard costs are used in product costing

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Reference no: EM133097289

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Distinguish between perfection standards and practical standards. Which type of standard is likely to produce the best motivational effects?

Explain how standard material prices and quantities may be set using examples from the production of a cricket bat.

Explain how and why standard costs are used in product costing.

Explain how you would interpret a variable overhead spending variance.

Explain the meaning of the variable overhead efficiency variance.

Reference no: EM133097289

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