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Velocity Skates is a fictitious company that produces roller skates. As the cost accountants prepare the budget for the upcoming year, they must calculate standard

Velocity Skates is a fictitious company that produces roller skates. As the cost accountants prepare the budget for the upcoming year,
they must calculate standard costs. Assume you have received the following bill of materials, which describes the inputs to Velocity
Skates's most popular skate, the Speedster:
Required:
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