Describe at least two types of standard costs

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Question - Cost and Pricing

Many businesses are offering their products and services over the Internet. Find well known company and, determine the following:

1. A product (or service) description.

2. A product price.

3. Based on your responses to parts (1) and (2), along with the description of the company's business, identify the potential costs that are required to provide the product selected in part (1) and categorize them as fixed or variable.

4. Which product do you believe has the largest contribution margin per incremental unit sold?

5. Describe at least two types of standard costs your selected company might use. Additionally, explain the types of direct and overhead variances each of your selected organizations might encounter. Provide an example of each.

Reference no: EM132562851

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