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List one of the variances and explain how to calculate it

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Reference no: EM132280315

Question: Answer the following-

1. Explain the term "standard cost".

2. What are some different types of variances?

3. What does it mean if a variance is favorable?

4. What does it mean if a variance is unfavorable?

5. List one of the variances and explain how to calculate it.

Reference no: EM132280315

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