Identify the advantages of standard costs

Identify the advantages of standard costs - (d) contribute...

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Identify the advantages of standard costs. Standard costs offer a number of advantages. They are: (a) facilitate management planning, (b) promote greater economy, (c) are useful in setting selling prices,
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Unformatted text preview: (d) contribute to management control, (e) permit management by exception, and (f) simplify the costing of inventories and reduce clerical costs....
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