Standard costing, Cost Accounting

STANDARD COSTING

STANDARD COSTING is a method, which uses standards for costs and revenues for the idea of control by variance analysis. It can be used either through operations or processes or with exact order type of cost accounting system.

A STANDARD COST is described as 'a pre-determined calculation of how much costs should be under exact working situations. It is built up from the assessment of the value of cost elements and associated technical qualifications and specifications of materials, labour and other costs to the prices and / or wage rates expected to apply throughout the period in which the standard cost is intended to be used.

Posted Date: 10/15/2012 7:11:43 AM | Location : United States







Related Discussions:- Standard costing, Assignment Help, Ask Question on Standard costing, Get Answer, Expert's Help, Standard costing Discussions

Write discussion on Standard costing
Your posts are moderated
Related Questions
Walter manufactures a silicone paste wax that goes through three processing departments: cracking, blending, and packing. All raw materials are introduced at the start of work in t

diff between cost estimation and cost accounting

Accounting Records - Nature and Purpose of Cost Accounting The quantitative information employed in the management and cost accounting systems can be obtained from with two ac

From the information provided, determine: 1.) The amount of retained earnings at December 31 and 2.) The amount of revenues for the period. Additional data:1.)Expenses for the peri

PH plc operates a modern factory that changes chemicals into fertilizer. Due to the the demand for  its product  is  seasonal,  the  company expects  that  there will be an average

can you guys do a project which is due in 2 weeks

a factory operates a small canteen but its annual operation has consistently shown a loss:

Learning Objective: After completing the project, the student will have gained familiarity, understanding and mastery of programming a realistic but simple application in Assembly

This assignment will consist of developing a center-based financial operating budget. A break-even and Cash-flow projection are not required for this assignment. Students will deve

elements for jobwork COST SHEET