1. Give examples of the strengths and weaknesses inherent in using standards for

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1. Give examples of the strengths and weaknesses inherent in using standards for planning, controlling, and decision making. How do standards relate to overall cost management?
2. This week we discuss target costing as means of determining desired profit. Discuss the use of target costing within the cost life-cycle and its benefits. Be sure to give at least two examples of the benefits of target costing and/or what situations (i.e. types of products) it might be best utilized.
Be sure to cite your sources in APA format

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