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What is the best way to establish standard costs? Use ideal standards, assuming no waste or down time Adjust ideal standards for common problems in
What is the best way to establish standard costs? Use ideal standards, assuming no waste or down time Adjust ideal standards for common problems in production (machine downtime due to maintenance, expected materials waste, etc). Strive for perfection, with the lowest imaginable costs Use historical data from when the product was first being released
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