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Standard cost are very important in lean manufacturing and systems help with determining and adjusting...

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Accounting

Standard cost are very important in lean manufacturing and systems help with determining and adjusting the costs. When our actual results differ from our planned results, we have a variance. Specifically - the calculation of variances for materials price, materials quantity, labor rate, labor quantity, controllable overhead, and overhead volume is essential to planning, controlling and decision-making. How can systems help in this area?

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