--%>
Assignment Help - homework help

Explain Standard Costing

Standard Costing: A costing technique which joins costs to cost objects based on reasonable approximations or cost studies and by the means of budgeted rates instead of according to actual costs incurred. The predictable cost of generating a unit of output. A predetermined cost to be allocated to products generated. The standard cost entails a norm, or what costs must be. Standard costing might be based on either absorption or direct costing principles, and might apply either to all or a few cost elements.

   Related Questions in Managerial Accounting

  • Q : What is Direct Cost Direct Cost : The

    Direct Cost: The cost of resources directly used by an activity. The direct costs are assigned to actions by direct drawing of units of resources used by individual actions. A cost which is particularly recognized with a single cost o

    		•
  • Q : Effect of illegal obligations on cost

    Normal 0 false false

  • Q : Define partnership A partnership is

    A partnership is stated as ‘the relationship which subsists among persons carrying on business in common with a view togain or profit’

    		•
  • Q : Number of Partners in Partnership What

    What is the maximum and minimum number of partners in each and every type of partnership? Answer: There must be at least two persons to build a Partnership. The maxi

    		•
  • Q : What is Limited partnerships Limited

    Limited partnerships: Limited partnerships are an alternative to limited liability companies because of their simplicity. All the states encompass passed limited partnership legislation.A limited partn

    		•
  • Q : Calculate From the books of Aggarwal

    From the books of Aggarwal Bors, the following information have been extracted: Rs. Sales 2,40,000 Variable costs 1,44,000 Fixed costs 26,000 Profit before tax 70,000 Rate of tax 40% The firm is proposing to buy a new plant which can generate additional annual profit of Rs. 10,000. The fixed

    		•
  • Q : Relevance-accounting information What

    What do you mean by the term relevance which is accounting information?

    		•
  • Q : Explain Investor Accounting Investor

    Investor Accounting: It is an individual who commits money to investment products with the hope of financial return. Usually, the primary concern of an investor is to diminish risk whereas maximizing return, as opposed to a speculator, who is willing

    		•
  • Q : Business law Hello, I am  Lauren

    Hello, I am Lauren Garcia, i have paid for question, please answer me here. Describe what parts of business law are involved in the following scenario. What issues are in

    		•
  • Q : Cash coverage of growth A financial

    A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities

    		•