Limitations of standard costing, Cost Accounting

LIMITATIONS OF STANDARD COSTING

1.     It may be very difficult to fix standards for all operations.

2.     Incorrect standards may result in wastage of money and time.

3.     Standards must be reviewed from time to time, if not reviewed, they lose relevancy.

4.      It pre assume determination of actual costs.

Posted Date: 10/15/2012 7:15:50 AM | Location : United States







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