Lago Corporation is considering adopting the standard costing method. Dan Sarkis, the manager of the Ohio Division,

Question:

Lago Corporation is considering adopting the standard costing method. Dan Sarkis, the manager of the Ohio Division, attended a corporate meeting at which Leah Rohr, the controller, discussed the proposal. Sarkis asked, “Leah, how will this new method benefit me? How will I use it?” Prepare Rohr’s response to Sarkis.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...