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Bill Wilson, the financial accountant at Robson Ltd is considering implementing a standard costing system. He has asked your advice on the following: a) Setting

Bill Wilson, the financial accountant at Robson Ltd is considering implementing a

standard costing system. He has asked your advice on the following:

a) Setting standards

b) Investigating variances

c) Taking corrective action on large variances

Required: Prepare a short report for Bill addressing these three areas.

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