Standard-Cost-System-business-and-finance-homework-help

Using Chapter 7 of your text as a reference, define a standard cost and explain what constitutes the components of a standard cost.  Describe the advantages and disadvantages of a standard cost system and explain under what circumstances a standard cost system is most effective. Your initial post should be 200-250 words.

Text is Managerial accounting: Decision making for the service and manufacturing sectors(2012). San Diego, CA: Bridgepoint Education

 

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