Practice 2: a: Define standard costs. b: under what conditions should previously established standard costs be revised? c: explain why the determination of standard cost amounts should not be the sole responsibility of a company's cost accountant.
Practice 2:
a: Define standard costs.
b: under what conditions should previously established standard costs be revised?
c: explain why the determination of standard cost amounts should not be the sole responsibility of a company's cost accountant.
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