Standard cost, Cost Accounting

Assignment Help:

Standard Cost

A predetermined cost is representing the ideal or norm achievable through an organization. Standard costs form the basis of a standard cost system used extensively in manufacturing industries.  At the starting of each year neither the organization normally review standards for material price and usage, wage rate, labor efficiency and overhead rates based on budgets.


Related Discussions:- Standard cost

Cost accounting, using relevant examples discuss the meaning and scope of c...

using relevant examples discuss the meaning and scope of cost accounting

Operating cost, 1.Assume that Abel business corporation is purchasing new e...

1.Assume that Abel business corporation is purchasing new equipment, for 350,000$ at the beginning of 2014. Assume that Abel business corporation is in the 30% corporate tax bracke

Sales revenue variance (srv), SALES REVENUE VARIANCE (SRV) The word 'Sa...

SALES REVENUE VARIANCE (SRV) The word 'Sales Variance' is indicated by the expression 'operating profit variance due to sales' by ICMA.  It is described as 'the difference betw

Cost accounting, raw an organization chart of any actual or hypothetical ma...

raw an organization chart of any actual or hypothetical manufacturing organization to show the position of management/cost accounting department within an organization and discuss

Calculated the net working capital, Balance Sheet                      ...

Balance Sheet                                                                      2010                2011             Assets Cash

Capital initial investment, Now along with the illustration of Ramsons at h...

Now along with the illustration of Ramsons at hand, this is not tough for us to understand that Ramsons have invested the 'money to make money'. Where has Ramsons invested the mone

Methods for resolving transfer pricing conflicts, what are the advantages a...

what are the advantages and disadvantages of marginal costs plus a fixed lump-sum fee?

Costs and revenue, Costs and Revenue Cost of the development work ...

Costs and Revenue Cost of the development work done in-house to 1 January 2009 has been £1.5m with a further cost of £50,000 per month from now until the software is ready

Standard costing system, Standard costing System has the following main adv...

Standard costing System has the following main advantages or benefits: 1. The process in itself often discloses inefficiencies, because the setting of standards requires a thoro

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd