Question

use of standard costing may encourage action for​

Answer 1

Answer:

Five of the benefits that result from a business using a standard cost system are: Improved cost control. More useful information for managerial planning and decision making. More reasonable and easier inventory measurements.

Answer 2

Answer:

Promoting possible cost reduction. Simplifying costing procedures and expediting cost reports. Assigning costs to materials, work in process, and finished goods inventories. Forming the basis for establishing bids and contracts and for setting sales prices