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1. (TCO F) During June, the Red Linso Manufacturing Company is considering whether they should implement a standard costing system for their plant in Omaha.

1. (TCO F) During June, the Red Linso Manufacturing Company is considering whether they should implement a standard costing system for their plant in Omaha. The production manager has been given a task to obtain budgeted input prices and budgeted input quantities. What are the three main sources of this information? Discuss briefly the advantages and disadvantages for each source.

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