A standard costing system a. is employed with an existing job order costing or process...
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Accounting
A standard costing system a. is employed with an existing job order costing or process costing system and is not a full cost accounting system in itself. b. is a system in which all costs affecting the three inventory accounts and the Cost of Goods Sold account are stated in terms of actual costs incurred. c. depends on actual costs rather than planned costs. d. is used by management for cost planning, but not for cost control purposes
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