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Which of the statements is true of standard cost

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Reference no: EM132528751

Question 1: Which of the following statements is true of standard cost?

Option 1: It is equal to the actual cost of one unit of product.

Option 2: It is the amount management thinks that one unit of product should cost.

Option 3: It allows companies to generate more favorable than unfavorable variances.

Option 4: It is often calculated after production for the period is complete.

Reference no: EM132528751

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