standard cost

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Related to standard costs: Cost Control

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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As for the prices of transport, they will be identical to the standard costs for transport from Kavadarci to Thessaloniki, charged by firms from Kavadarci, and the payment period will be 15 days," GSOL said.
Standard costs are an estimated or predetermined cost of performing an operation or producing a good or service under normal conditions.
He did this so students would be able to handle the then prevalent world of standard costs with its model driven off of direct and indirect labor costs.
According to estimates of the Moldovan Ministry of Economy, it is expected that the harmonization of technical standards and improving access to cheaper and faster conformity assessment procedures, as well as the introduction of the principle of mutual recognition between Moldova and the EU, will lower the standard costs by 50% for agricultural and food products and 35% for industrial products.
The learning objective for this active learning approach to teaching standard costs is to allow students to feel that they have more control over their learning environment than is allowed by working a predetermined problem presented in a textbook.
Contract award: verification of standard costs, lump sums and bonuses.
The correct approach, therefore, is first to calculate the difference between the original and revised standard costs and report that as the I planning variance; and then to calculate the operational variances based upon the revised standard cost as follows:
Upgraded equipment to meet such tougher standard costs about NT$100 million (US$3.
Standard costs, which are predetermined unit costs, estimate the costs of the output, which then are compared with actual costs incurred to determine variances that are useful for exercising managerial control.
EC rule changes mean that establishment payments will now be based on grant recipients' actual expenditure rather than standard costs.
As a result the company has now published their latest guide to Standard Costs, which is invaluable for any company involved in batch, production or prototyping.
She was inaugurating training workshop on PEC standard costs and control documents.

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