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1-Setting standard costs is relatively simple because it is done entirely by accountants. True or False 2-Ideal standards will generally result in favorable variances for

1-Setting standard costs is relatively simple because it is done entirely by accountants. True or False 2-Ideal standards will generally result in favorable variances for the company. True or False 3-If actual costs are less than standard costs, the variance is favorable. True or False 4-The materials price variance is normally caused by the production department. True or False 5-In using variance reports, top management normally looks carefully at every variance. True or False

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