Question: The difference between a standard and a budget is View the Video standards are forecasts while budgets are actual values. a standard is a total

The difference between a standard and a budget is View the Video

standards are forecasts while budgets are actual values.

a standard is a total amount while a budget is a unit amount.

if the standard is $1.50 then the budget is $1,500 for one thousand units.

a standard is used only within a cost accounting system while a budget is used only outside of a cost accounting system.

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