The management of Bullard Manufacturing uses both standards and budgets. The company estimates that production for the year will be 150,000 units of the product, Q-12e. To produce these units of Q-12e, the company expects to spend $1.125,000 for materials and $1,500,000 for labor Instructions 1. Discuss the difference between a standard coast and a budgeted cost 2 Compute the estimates for (a) a standard cost and (b) a budgeted cost