Standard Costing System Discussion Questions and Answers: Questions: (a) Define standard costs. (b) Name some advantages of standard cost system. See answer A team of management consultants and company executives concluded that a standard cost installation was desirable vehicle for accomplishing the objectives of
Labor is a main purpose of production. The size of a nation’s labor force is gritty by the size of its adult population, and the extent to which the adults are either working or are prepared to offer their labor for wages.