Standard cost

Standard cost,

Definition of Standard cost:

  1. Estimates of cost costs for processes, resources or items used in a manufacturing company are posted in the accounts and compared to the actual costs so that irregularities can be easily identified.

  2. Default estimates or prices for doing or producing goods under normal circumstances.

    Standard costs are used as a basis for comparing target costs (or actual costs) and are generated from the analysis of historical data or the study of time and movement. These costs are almost always different from the actual costs, as each situation has its share of unforeseen factors. Also called normal charge.

How to use Standard cost in a sentence?

  1. In this budget, standard costs are used for each production step.
  2. Before entering this market and paying them for their hard earned money, I want to know the standard price of my product.
  3. Companies usually offer their services based on the company's work history to provide customers with a normal or standard service fee.
  4. If you have extra money for your product, you may want to sell it below the standard price to get rid of it.

Meaning of Standard cost & Standard cost Definition

Standard Cost,

How To Define Standard Cost?

  • Standard Cost refers to The actual costs of direct materials, direct labor and factory overhead are determined before they are disclosed.

Literal Meanings of Standard Cost

Standard:

Meanings of Standard:
  1. A measure of quality or performance.

  2. An idea or object used as a pattern, pattern or model in benchmarking.

  3. A popular melody or song.

  4. Military or formal flags are hoisted on poles or waved on ropes.

  5. A tree or shrub that grows taller on a vertical trunk.

  6. Vertical piping for water or gas.

  7. Used or accepted as normal or medium.

  8. (From a tree or bush) Straight on a straight trunk.

Sentences of Standard
  1. The restaurant offers a high quality service.

  2. Low wages by today's standards

  3. Many songs went to the western part of the country, other songs were standard jazz and Kiss Nova Pop.

  4. Sir Marcus Versley paid tribute to the Queen Mother and members of the Malton and Norton branches of the British Royal Legion carried flags.

  5. Standard income tax rate

  6. Standard waves are useful in situations where direct altitude is required.

Synonyms of Standard

established, daily, requirement, fixed, traditional, quality, routine, criterion, streamer, settled, regular, pennon, set, yardstick, day-to-day, degree, usual, habitual, stock, prevailing, wonted, customary, flag, colour, benchmark, law, canon

Cost:

Meanings of Cost:
  1. Payment (an amount of money) is required before receiving or performing (an item or action).

Sentences of Cost
  1. Your job is to plan and calculate the cost of the media program for the campaign.

Synonyms of Cost

market price, be priced at, sell for, fare, tariff, amount to, rental, selling price, be valued at, fetch, hire charge, estimate the price of, asking price, charge, price, fee, levy, evaluate, put a value on, come to

Standard Cost,

How To Define Standard Cost?

  1. Realistic materials are spent as direct costs, direct costs and factory indirect costs.

Literal Meanings of Standard Cost

Standard:

Meanings of Standard:
  1. Anything used as a measure, standard or model in benchmarking.

  2. (Especially in the case of jazz or blues) a melody or established popularity song.

  3. A tree or shrub grows to a full height on a standing trunk.

  4. Water or gas stand pipe

  5. Used or accepted as normal or average.

  6. (From a tree or bush) growing tall on a straight trunk.

Sentences of Standard
  1. Regular income tax rate

Synonyms of Standard

merit, expected, burgee, ordinary, pennant, vexillum, accustomed, colour (s), typical, common, ensign, excellence, everyday, pendant, calibre, normal, gonfalon, conventional, worth, quotidian

Cost:

Meanings of Cost:
  1. Payment (amount of money) is required before receiving or performing an item or action.

  2. Appreciate the price.

  3. The amount that is paid or spent to buy or receive something.

Sentences of Cost
  1. We can cover the cost of the event.

Synonyms of Cost

rate, estimate the cost of, toll, worth, go for, put a figure on, knock someone back, put a price on, set someone back, face value, valuation, quotation, damage

Standard Cost

Realistic direct material costs, direct labor costs and overhead costs determined before they are incurred.