Standard Cost And Standard Costing.

Q68. What is Standard Cost? What do you mean by Standard Costing?

Standard Cost: Standard cost are usually employed are pre-determined operation costs computed to reflect specified quantities, prices and level of operations.

Standard Costing: Standard costing as to their causes, so that management is immediately informed of the spheres of operations in which remedial action is necessary.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: