48. A standard cost system is useful for: * a) Analyzing variances between actual and budgeted costs b) Identifying and managing cost drivers c) Evaluating the performance of cost centers d) All of the above 49. A standard cost system is typically used in: * a) Service organizations b) Manufacturing organizations c) Retail organizations d) All of the above 50. The standard cost system is prepared: : a) Prior to the beginning of the period b) After the end of the period c) Concurrently with the activity