Question B1 Bob's Brownies Ltd (BB) has been trading for several years, the business has grown rapidly as Bob's secret recipe has proved hugely popular. The business is now struggling to keep up with demand. Bob's approach to managing the business remains very informal, and as the business has grown he has found it increasingly difficult to manage costs and assess performance. A friend of Bob's runs a manufacturing business and suggested the use of standard costing, Bob is keen to learn more about standard costing and how it might work for his business. a) Draft notes for a report for Bob which outline: - What standard costing actually is and how it could be both suitable and beneficial for BB; T - The significance of variance analysis in a standard costing system