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What Are The Purposes Of Standard Costs?
Answer required during the preparation of MBA exam.
asked 3 months ago
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The main purpose of each profit based company is to get the profit and even for the non-profit company is to manage without incurring extra costs. The way through which the revenues can be calculated and net profit can be calculated is through standard cost because it can give an idea of optimal revenue. It also evaluates the efficiency with which the resources were used to get a specific profit.
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