Please help me with this problem given the requirements and the data below

El 1-26A (book/static) The following scenarios describe situations current'/ facing companies. O (Click the icon to view the scenarios) Requirement Question Help For each scenario, indicate whether or not a standard costing system would be beneficial in that situation end explain why or why not. Each scenario is independent of the other scenarios (Abbreviations used: GL = general ledger. A selection may be used more than once) Scenario Is Standard costing beneficial? Why beneficial or why not beneficial? More Info x c. As the company grows, the bookkeeping for actual direct materiel purchases, actual payroll costs, end actual manufacturing overhead is becoming increasingly complex; the number of transections to be recorded has significantly increased. Much time is being spent by both managers end accountants in the company recording all ot the actual transaction data Lean practices are being implemented throughout the organization at all levels and in ell departments One ot the goals of the lean movement is to eliminate inventories if at ell possible Another goal is to strive for continuous improvement in both the time spent in the manufacturing process and the amount of materials used in the product The company has started using several real-time operating performance metrics to manage operation. Examples ot metrics being used include manufacturing lead time in days, manufacturing volume by day, downtime in hours, material cost by day, and several other measures. These performance metrics are available to management in a dashboard that is updated hour'}! Management wants to design an incentive system that would pay out monthly incentives to factory workers it certain cost end time standards are achieved (or beaten). The goal of this program would be to increase employee motivation levels. An exercise equipment manufacturer has recent'/ installed a robotic manufacturing system This robotic system will be used for most of the welding, painting, assembly, and testing processes in its facility. The workers who used to do these tasks (welding. painting, assembh/, and testing) will be retrained and will instead oversee various production nnes rather then working direct"/ on the products The company has recently begun manufacturing a new type ot computer chip. The company has very little experience with this type ot product orthe manufacturing process used for manufacturing the chips. Managers want to be able to have cost benchmarks so that they cen judge whether the actual costs are reasonable for this product A rare and expensive chemical is used in the production of the companys main product The cost of this material fluctuates wildly on a day-to-day basis, depending on market conditions. In addition, company engineers are continually working to redesign the product to use less of this material. Small incremental decreases in the material usage ere being achieved on an ongoing bese