2023 Describe how standard costs are determined by a manufacturing company Describe 2 types of standard | Assignments Online

2023 Describe how standard costs are determined by a manufacturing company Describe 2 types of standard | Assignments Online

Assignments Online 2023 Business Finance

 Describe how standard costs are determined by a manufacturing company. Describe 2 types of standard cost variances that are used by management to assess both the efficiency and effectiveness of comparing actual price to standard price.

Support your rationale with examples and provide one academic resource.

I have attached 1 example.

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