Describe the advantages of using practical standards

Reference no: EM132758554

Question: Budgeting and Standard cost systems

1. What advantages might be experienced by a company if it adopts ideal standards for its direct material standards and direct labor standards?

2. What are some of the advantages of using practical standards?

3. As an employee, which would you prefer and why?

4. If you are a production manager, would you change your answer to this question? Why or why not?

Reference no: EM132758554

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