Question: A standard cost system Blank _ _ _ _ _ _ . Multiple select question. records standard costs in the formal accounting records does not

A standard cost system Blank______.
Multiple select question.
records standard costs in the formal accounting records
does not record standard cost variances in the formal accounting records
can be used with either a job-order or process cost system
simplifies the determination of equivalent-cost in a process cost system
can be used by manufacturing but not service entities

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