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Entrepreneur Chris Martin of Martin Guitar (see Chapter opener) uses a costing system with standard costs for direct materials, direct labor, and overhead costs. Two comments frequently are mentioned...

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Entrepreneur Chris Martin of Martin Guitar (see Chapter opener) uses a costing system with standard costs for direct materials, direct labor, and overhead costs. Two comments frequently are mentioned in relation to standard costing and variance analysis: ?oVariances are not explanations?? and ?oManagement’s goal is not to minimize variances.??

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Write Chris Martin a short memo (no more than 1 page) interpreting these two comments.

Answered Same Day Dec 24, 2021

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Robert answered on Dec 24 2021
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