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What is the primary purpose of setting up cost centers in a standard cost system?a)To determine standard prices for materials.b)To classify accounts based on their functions.c)To establish a basis for calculating standard labor costs.d)To identify responsibilities for cost control.Correct answer is option 'D'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the primary purpose of setting up cost centers in a standard cost system?a)To determine standard prices for materials.b)To classify accounts based on their functions.c)To establish a basis for calculating standard labor costs.d)To identify responsibilities for cost control.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary purpose of setting up cost centers in a standard cost system?a)To determine standard prices for materials.b)To classify accounts based on their functions.c)To establish a basis for calculating standard labor costs.d)To identify responsibilities for cost control.Correct answer is option 'D'. Can you explain this answer?.

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