standard cost


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standard cost

n
(Accounting & Book-keeping) accounting the predetermined budgeted cost of a regular manufacturing process against which actual costs are compared
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What is now a profit emergency occurs when the new equipment is in, the depreciation and interest expense is larded onto the already weakened P&L, and neither actual revenue nor actual cost behaves as anticipated by accounting's standard cost system and pro forma financials.
Cost of goods sold is based on actual units sold multiplied by the unit standard cost developed during the budget cycle.
Brandeis and Standard Cost Accounting: A Study of the Construction of Historical Agency," Accounting, Organizations and Society, August 1996, pp.
Now NEHIP is lobbying for Government money to put in place a programme of free insulation for vulnerable homes, with subsidies to make insulation available to other homes at a reasonable, standard cost across each local authority area in the region.
If you have a bachelor's degree in accounting or in business administration (with a major in accounting), you will remember having taken (or survived, as the case may be) one or two courses that introduced you to the concepts of traditional cost accounting: normal cost, standard cost, custom work and continuous operation costing, to name a few.
5 million households were in fuel poverty - meaning heating their homes to an adequate standard cost over 10% of their income - at the start of 2005.
They increased inventory by their standard cost of a drive, which at the time was around $200," Regan says.
AS COMPANIES IMPLEMENT A LEAN APPROACH to manufacturing, CPAs have begun to realize many standard cost accounting practices no longer make sense.
The new standard cost more than pounds 350, raised at car boot sales over three months, and will be used in future Remembrance marches.
And while support is a standard cost of doing business, a CIO with vision can undoubtedly share business improvement strategies that incorporate new or often existing technologies.
It assigns a standard cost per lost day, derived from analysis of prior claims, reflecting indemnity, medical and other costs.

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