For each of the following cost standards, indicate which manager is responsible for the standard, and list one factor that should be used in setting the standard
Cost standard Responsible manager Factor used in setting the standard
Direct materials
Direct labor
What will be an ideal response
Cost standard Responsible manager Factor used in setting the standard
Direct materials Purchasing Purchase cost, discounts, delivery requirements, credit policies
Direct labor Human Resources Wage rate based on experience requirements, payroll taxes, fringe benefits
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