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Discussion: There are many different reasons why actual cost may be different than standard...

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Accounting

Discussion:

  1. There are many different reasons why actual cost may be different than standard cost for a given operating period. Choose one problem that can lead to such a difference. Point out how this problem can increase potential savings. 2) Discuss the advantages and disadvantages of calculating and comparing standard and actual costs by the daily method rather than by the periodic method.

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