(SOLVED) The Real life on page 504 explains how standard costing


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The ‘Real life’ on page 504 explains how standard costing systems may be adopted to better suit managers’ decision needs. This includes using different definitions of standard costs to suit different types of decisions. Provide some examples to explain what definitions of standard costs might be suitable for
(a) Producing a one-off production order and
(b) Evaluating the performance of a production supervisor?

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