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Topic Question: Costing (Standard cost, indirect cost, cost curves) Hello! I have a few multiple choice questions associated with the topics stated above. Would really

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Topic Question: Costing (Standard cost, indirect cost, cost curves)

Hello! I have a few multiple choice questions associated with the topics stated above.

Would really appreciate the answers with full explanations, especially reasons why certain options shouldn't be chosen, just so i can learn effectively! (Especially the cost curve question, can't properly identify the ones given in the options, if you can name what they are , please let me know) Also; i understand the standard cost question is poorly written and the options dont fully apply, but i am thinking D is the answer

Please refer to the attachments below.

Thanks in advance :)

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37. Which of the following statements about standard cost is TRUE? (A) It is used to reduce tax liability. '(B) It is always greater than the actual cost. (C) It refers to the average cost of production in the cost period. (D) It is a target for the period ahead. 13. The indirect costs of converting raw materials into finished goods are called period costs prime costs conversion costs overhead costs10. Which of the following graphs reflects the renting of extra warehouse space by a firm during periods of increased demand? (A) S output (B) output (C) output (D) output

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