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2. (TCO 10) (a) What is a standard cost (5 points)? (b) Provide an example of a manufacturing standard cost (5 points). (c) What is

2. (TCO 10) (a) What is a standard cost (5 points)? (b) Provide an example of a manufacturing standard cost (5 points). (c) What is an ideal standard (5 points)? (d) What is a practical standard (5 points)? (e) Should ideal or practical standards be used (5 points)? (Points : 25)

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