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Which of the following accurately describes a way in which standard costs are developed? A. Standard labor wage rates may be determined by engineering studies.
Which of the following accurately describes a way in which standard costs are developed?
A. Standard labor wage rates may be determined by engineering studies.
B. Standard material quantities can be determined by performing time-and-motion studies.
C. Recipes or formulas can be used to determine material price standards.
D. Supplier price lists may be used to determine material price standards.
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