Task As a trainee management accountant for your company, you are asked to prepare standard cost for one the company's product for the coming year 2022. As such, you asked to choose the product that the company wish to produce next year and to develop the standard cost per unit and for the whole year based on any budgeted production units. At the end of the year, you are required to calculate all relevant variances by comparing with actual results obtained during the year ended. Explain the causes for all variance to occur. Discuss benefits and limitations of standard costing. (60 marks)