The estimated cost of each specific unit of production such as materials and overhead expenses. This cost is then used as one of the variables in pricing the product for sale to its purchasers.
Related information about standard cost:
- Standard Costing | AccountingCoach.com
Learn about the standard cost of direct materials, direct labor and manufacturing overhead from AccountingCoach.com, a FREE website. Gain a clear ...
- What is standard cost? definition and meaning
Definition of standard cost: An estimated or predetermined cost of performing an operation or producing a good or service, under normal conditions. Standard ...
- Cost accounting - Wikipedia, the free encyclopedia
1 Origins; 2 Elements of cost; 3 Classification of costs; 4 Standard cost accounting. 4.1 The development of throughput accounting. 5 Activity-based costing ...
- Accounting Principles II: Standard Costs
A standard cost can also be developed and used for pricing decisions and cost control ... A standard cost in a manufacturing company such as Pickup Trucks ...
- Standard Costing - AccountingTools
It is extremely easy to print a report showing the period-end inventory balances (if you are using a perpetual inventory system), multiply it by the standard cost of ...
- International Standard Cost Model Manual - Organisation for ...
This manual is written by the Standard Cost Model (SCM) Network – a ... In August 2004 a booklet – “The Standard Cost Model – a framework for defining and ...
- CHAPTER 10: STANDARD COSTING
The following example shows a standard cost sheet for a deluxe widget. It is a fictional example, yet provides a realistic picture of the level of detail involved in ...
- Standard Cost: Definition from Answers.com
Production or operating cost that is carefully predetermined. Astandard cost is a target cost that should be attained.