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A company develops computer software programs to meet each client's specific requirements. The management accountant is considering introducing a standard costing system.

Which THREE of the following are reasons that support the case for the company's introduction of a standard costing system?

Options:

It will enable the company to make a direct comparison of costs for each program developed.

It will enable the company to better focus on the quality of its service.

It will provide a system of control.

It will aid the budget setting process.

It will simplify the work-in-progress valuation.

Question 3

A company sells two products, X and Y, which are always sold in the same ratio.

No inventories are held.

The following budgeted data relate to month 10:

What is the budgeted margin of safety in month 10?

Options:

600 units

5,400 units

1,000 units

5,000 units

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