$1$ a$.$Standard costs are the expected total cost of completing a job.$$ Is this correct? Explain why or why not. b$.$A standard imposed by a governmental agency is known as a regulation.$$ Is this correct? Explain why or why not.

$2.$ a$.$ Explain the similarities and di$$erences between standards and budgets. b$.$ Contrast the accounting for standards and budgets

$3.$Standard costs facilitate management planning. What are the other advantages of standard costs?$$

$4.$ Contrast the roles of the management accountant and manage$-$ ment in setting standard costs.$$

$5.$ Distinguish between an ideal standard and a normal standard.$$