Managerial accounting by garrison noreen13th chap011

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...Standard Costs Standards are benchmarks or “norms” for measuring performance In managerial accounting, two types of standards are commonly used Quantity standards specify how much of... 11-19 Advantages of Standard Costs Management by exception Promotes economy and efficiency Advantages Simplified bookkeeping Enhances responsibility accounting 11-20 Potential Problems with Standard... recommend using practical standards that are currently attainable with reasonable and efficient effort Managerial Accountant 11-5 Setting Direct Material Standards Price Standards Quantity Standards
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