Question: A standard cost system ______. Multiple select question. can be used by manufacturing but not service entities records standard costs in the formal accounting records

A standard cost system ______. Multiple select question. can be used by manufacturing but not service entities records standard costs 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 does not record standard cost variances in the formal accounting records

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