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What circumstances a standard cost system is most effective

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Define a standard cost and explain what constitutes the components of a standard cost. Describe the advantages and disadvantages of a standard cost system and explain under what circumstances a standard cost system is most effective.

The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.

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Operation Management: What circumstances a standard cost system is most effective

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