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summarize the following: Budgets and Standard Costing: Evaluate the different types of budgets and discuss how operating and financial budgets are…

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 summarize the following:
Budgets and Standard Costing: Evaluate the different types of budgets and discuss how operating and financial budgets are prepared for a manufacturing company. Discuss the use of budgets and standard costs to control business activities. Explain how standard costs are used to determine variances.