The setting of standards is critical to the effective use of standards in evaluating performance. Explain the following in a memo to your instructor….

The setting of standards is critical to the effective use of standards in evaluating performance.Explain the following in a memo to your instructor.(a) The comparative advantages and disadvantages of ideal versus normal standards.(b) The factors that should be included in setting the rice and quantity standards for direct materials, direct labr, and manufacturing overhead.

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