Question: i need new answer please . A standard cost system is used to measure performance and value inventory. Variance reports are created using the standard

i need new answer please . A standard cost system is used to measure performance and value inventory. Variance reports are created using the standard cost system. Discuss why the details of material, labor and overhead are important factors used in this standard cost measurement process. This accounting process requires accuracy; discuss the impact to the company if the standard cost system does not generate accurate measurements. Provide examples to support your discussion.

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