Standard Costs Discussion

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Description

Week 7 Discussion Topic:How do you think the idea of standard costs could be used in a service industry like a hospital, clinic, law office, insurance company, IT department, non-profit and so on (as it relates to your major)? As a manager of one of these organizations what changes do you think you could make as a result of reviewing the variances we learned this week (materials, labor, overhead)? Be sure to provide specific, relevant examples of the use and analysis of the variance results.

Explanation & Answer:
300 Words

Tags:
accounting

standard costs

service company

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