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7. The standard material cost of one of a companys products represents: a) The material cost required for a product plus or minus the budgeted
7. The standard material cost of one of a companys products represents:
a) The material cost required for a product plus or minus the budgeted material price variance.
b) The expected cost of the material that is needed to make one product.
c) The budgeted cost of materials for one days production.
d) None of the above are valid definitions of standard material cost.
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