Flag Functions

This puzzle is primarily composed of international maritime signal flags, with a few country flags thrown in. Here is what the flags convert to:

FJGREECEK = Flag of Greece
EFJPORTUGALK = Flag of Spain
SFJCANADAK = Flag of the United States
WNFJSUDANK = Flag of Libya
MZI = Q
QMZRZA = B
CRRRZH = JPOLANDK
HCRRRZH = P
FBBBBBCNFJUGANDAK = Flag of Sudan
HBBCVFJMONACOK = L
VTFJMAURITIUSK = E
UZQMZP = K
IMZSTZE = P
HCPFJIRAQKMFJBANGLADESHKMZX = Y
DFJRUSSIAKMZS = E
PPFJLAOSKMZSTRZKMZRZQ =D
HCRUZQTZE = U
PURUVZORRZORUZORZOZQMZX = F

Each flag corresponds to a function that can be applied to other flags:

B	remove first letter of a string
C	spell the name of the country
D	delete a color from a flag
E	go due east from a country's flag to another country's flag
F	flag of the country spelled by the following string
H	get the first flag of a string
I	insert a copy of the first flag into the second
J	open quotes for making strings
K	closed quotes for making strings
M	take the majority color
N	go due north from a country's flag to another country's flag
P	paint the first color over all instances of the second color in the third flag given as inputs
Q	crop the first flag to the second flag's shape
R	rotate 90 degrees counter clockwise
S	go due south from a country's flag to another country's flag
T	take the top half of the flag
U	put the first flag next to the second flag
V	reflect vertically
W	go due west from a country's flag to another country's flag
Z	indicates that the next flag should be used as a flag, not as a function

Once you understand all the flags, you can tackle the equations at the end:

PPPZ?MZXZQMZJTRRRZHZQMZM = ITT?TTRZNMZS
RTFJTH?ILANDK = RRSPFJROMANIAKTZETRTZL
QPZKZQMFJCYPRU?KDFJEQUATORIALGUINEAKTRZK = HC?FJARMENIAK
RPURUZUZURUZUUFJMONACOKFJP?LANDKZBMZP = HCVRZT
R?URRFJCHADKFJCHADKMZR = HBBBCNFJ?EMENK
HBCPPZIZQ?ZSDTZLZQMZR = QRPTZDZQMZSUZFRDZZMZR
HCERPFJMAL?KZQMZS = PFJSWEDENKMTRFJC?BAKMZR
PPPFJMAURITIUSKZQTZE?FJNIGERIAKMZRMZRZQ = RUZKRRZK

For the equations to be true, the blanks must be filled in with PRASEODYMIUM. Additionally, the eight equations simplify to spell STANDARD, the other answer to the puzzle.