Meaning Of The Word Standard cost

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What's the definition of Standard cost? Find Standard cost meanings, definitions and more at the Real Dictionary online.

Standard cost Meaning

Standard cost Definition
Standard cost Definition

What's The Definition Of Standard cost?

standard cost in British English
noun: a predetermined cost of material, labor, etc., based on specifications prepared from time-and-motion studies, accounting records, and the like
noun: the predetermined budgeted cost of a regular manufacturing process against which actual costs are compared

standard cost in Retail
noun: A standard cost is the budgeted cost of a regular manufacturing process against which actual costs are compared.

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