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Cost savings in record - keeping is one of the advantages of a standard cost system. How does this happen? Less variances equate to less

Cost savings in record

-

keeping is one of the advantages of a standard cost system. How does

this happen?

Less variances equate to less record keeping.

Increased employee morale contributes to greater accuracy.

No special calculations are needed to produce actual costs during a period.

Line managers do not need to monitor variances.

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