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What do we mean by a standard cost

Assignment Help Managerial Accounting
Reference no: EM131691994

Question 1

What do we mean by a "standard cost"? Any examples that you can think of for any type of business?

Question 2

In this context that we're discussing, in plain and simple English, what is a "variance"? Any examples that you can think of for any type of business?

Reference no: EM131691994

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