STANDARD COSTING

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STANDARD COSTING
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• Standard Costing

• The Standard cost accounting or Standard costing
  system isnt a definite system of accounting
  however its the way that is applicable
  altogether forms of standard accounting like
  method cost accounting or job cost accounting.
  Normally the quality cost accounting technique
  consists in- (a) component-wise commonplace
  prices are predetermined (b) standard prices are
  compared with actual costs (c) with relevance
  causes points of incidence, variances are
  measured.

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Techniques of Standard Costing

• There is a pre-determination of knowledge that
  square measure associated with production.
• For each part i.e., material, labor overhead,
  commonplace prices square measure set up very
  well.
• Ascertainment of variances, that arises as a
  result of variations between the particular
  prices

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• corresponding commonplace price very well wise
  is finished by the comparison the particular
  prices
• For the aim of decisive the causes for the
  variations between the particular prices
• Presentation is formed in an exceedingly most
  fitting manner to the acceptable management
• Within the issues that manufacture commonplace
  product repeatedly

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STANDARD COSTING