--%>
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 : Cash flows from operating activities A

    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

    		•
  • Q : Define Cost Accounting Cost Accounting

    Cost Accounting: The Cost accounting is an approach to evaluate the overall costs which are related with conducting business. It is generally based on standard accounting practices, cost accounting is one of the tools which managers u

    		•
  • Q : Ravenna Please see attached. Do tutors

    Please see attached. Do tutors provide assistance as to how they came about their answers?

    		•
  • Q : Major tasks of board that runs the

    Write down a short note on the major tasks of board that runs the organization?

    		•
  • Q : What is Job Order Costing Job Order

    Job Order Costing: A technique of cost accounting which accrued costs for individual jobs or lots. A job might be a service or manufactured item, like the repair of tools or the treatment of a patient in the hospital.

    		•
  • Q : Define Profit or Loss Analysis Profit

    Profit or Loss (P&L) Analysis: A financial statement which summarizes the revenues, costs and expenses acquired during a particular period of time - in general a fiscal quarter or year. Such records give information which exhibits the capability o

    		•
  • Q : Illustrate the effect of tax on the

    The U.S. market for rice is illustrated below.   The world pric

    		•
  • Q : Information that a manager need to make

    What is the various information that a manager need to make a decision?

    		•
  • Q : Accounts payable Normal 0 false false

    Normal 0

  • Q : Comparative-Advantage Approach to

    We study optimal government debt maturity in a model where investors derive monetary servicesfrom holding riskless short-term securities. In a simple setting where the government is the onlyissuer of such riskless paper, it trades off the monetary premium associated w

    		•