Question: please answer all 1) Is corrective action always necessary when actual costs are higher than standard costs? 2) What is meant by the concept of

please answer all please answer all 1) Is corrective action always

1) Is corrective action always necessary when actual costs are higher than standard costs? 2) What is meant by the concept of "potential savings (profits)"? 3) Why should a standard cost that is higher than an actual cost be of concern to management? Utilize a theoretical example from any restaurant to defend your response. 4) What are some objectives of corrective action procedures

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