standard cost


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Fig. 78 Standard cost. Table showing the standard cost of an upholstered chair.

standard cost

an estimated product cost, prepared in advance of production, that shows what a product ought to cost given reasonably efficient working. Standard cost includes the direct materials cost of the product, direct labour cost and production overheads, as well as distribution, selling and administration overheads. Overheads are charged to products using an appropriate COST RATE derived by dividing budgeted overheads by budgeted output. Fig. 78 shows a simplified standard cost for a product. Such predetermined standard costs are used to provide a basis for price fixing and for cost control through VARIANCE ANALYSIS. See also DIRECT-LABOUR COST VARIANCE, DIRECT-MATERIALS COST VARIANCE, OVERHEAD-COST VARIANCE.
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Farmers can purchase items which exceed the specification but will only receive a grant on the standard cost.
These costs do not vary with how that capacity is utilized; this is why airlines, hotels, and cruise ships do not use standard cost accounting either, but rather focus on pricing, cash flow, and capacity modeling.
I also had to incur Dh199.99 for line activation and set-up which is etisalat's standard cost for a new connection.
Standard cost $5.80 per pound Standard quantity 0.4 lb.
"They are much higher than our normal standard cost. I considered them relatively one of the highest cost road projects in our country," Singson told the Senate blue ribbon committee hearing on Thursday.
Hatboro, PA, December 08, 2011 --(PR.com)-- Delta Market Research, a national Market Research firm whose findings have been featured in the Wall Street Journal and New York Times is launching the first Solar Energy Study with the purpose of assisting subscribers to the benefits of both multi-tiered Marketing paradigms and measurements for assisting Marketing efforts in overcoming the standard cost barriers involved in moving audiences and therefore sales forward.
Compliance with the code also requires the adoption of the Industry Standard Cost Classifications Christina Hirst, acting director for RICS Wales, said: "Since the launch of the code in 2006, it is fair to say that a greater degree of professionalism has been brought to the way investors provide and charge for services.
It will greatly ease the difficulties of the domestic textile exporters as they now can get their samples tested at a standard cost.
Insulation can see energy bills drop by up to pounds 250, so even those who pay the standard cost of pounds 99 will save.
After October 1, the standard cost of a landline will be Au159.48 - or Au131.88 for people who pay the full sum upfront.
After October 1, the standard cost of a landline will be pounds 159.48 - or pounds 131.88 for people who pay the full sum up front.
The standard cost BT charges for ringing any mobile during the day is 12.5p a minute.

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