Standard Cost vs Moving Average

Hi all,

I'm wondering if someone can explain with a bit more detail how SBO handles standard cost.

I know how to set it up and why it's there, but I'm curious how some clients use it and their procedures around managing it.

How do auditors react to it, does it require more work to maintain, is there anything in SBO to help manage the adjustment of variances?

If I switch some finished BOM inventory items to standard cost will there be any long term negative effects such as over/understated revenue?

TIA,

Mike