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Unformatted text preview: prepared for each cost unit. It has details of the standard amount and price of each resource that will be utilized while providing the service. Standards costs should be updated on an annual basis and even more so during times of turbulence. The level of absorption in standards cost is motivated a company’s behavior around cost management. Research has clearly demonstrated that as much as fifty percent of management; do not trust the information that is presented to them. In order to improve your business intelligence you need to evaluate the relevance, timeliness and consistency of your standard cost information....
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This note was uploaded on 12/17/2011 for the course ECON 101 taught by Professor Chapman during the Spring '11 term at Arcadia University.
- Spring '11