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provide your thoughts and insights on what you would prefer to use as a variance measuring...

provide your thoughts and insights on what you would prefer to use as a variance measuring performance system. Standard Costing or Lean Manufacturing.
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Answer #1

Standard costing is an accounting system used by manufacturers to identify the differences or variances between.

The management evaluates the performance of a company by comparing it with some predetermined measures.Therefore it can be used as a process of measuring variance with actual performance.

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