standard production cost

The production costs of products and operations calculated from predetermined levels of performance and cost in order to provide a yardstick against which actual production costs can be compared for the purposes of cost ascertainment and control.

Big dictionary of business and management. 2014.

Look at other dictionaries:

  • standard production cost — The production costs of products and operations calculated from predetermined levels of performance and cost in order to provide a yardstick against which actual production costs can be compared for the purposes of cost ascertainment and control …   Accounting dictionary

  • unit standard production cost — The standard production cost, expressed as a rate per unit of production or sales …   Accounting dictionary

  • unit standard production cost — The standard production cost, expressed as a rate per unit of production or sales …   Big dictionary of business and management

  • total standard production cost — In standard costing, the total of standard direct materials cost, standard direct labour cost, the standard fixed overhead cost, and the standard variable overhead cost …   Big dictionary of business and management

  • total standard production cost — The total of standard direct materials cost, standard direct labour cost, the standard fixed overhead cost, and the standard variable overhead cost …   Accounting dictionary

  • standard overhead cost — A standard cost for the fixed and/or variable overhead of an operation derived from the standard time allowed for the performance of the operation or the production of a product and the standard overhead absorption rate per unit of time for that… …   Accounting dictionary

  • standard overhead cost — A standard cost for the fixed and or variable overhead of an operation derived from the standard time allowed for the performance of the operation or the production of a product and the standard overhead absorption rate per unit of time for that… …   Big dictionary of business and management

  • production cost variance — In standard costing, the variance arising when the standard cost of the actual production is compared with the actual cost incurred. If the standard cost is higher than the actual cost a favourable variance arises, while if the actual cost… …   Accounting dictionary

  • production cost variance — In standard costing, the variance arising when the standard cost of the actual production is compared with the actual cost incurred. If the standard cost is higher than the actual cost a favourable variance arises, while if the actual cost… …   Big dictionary of business and management

  • cost — Expense; price. The sum or equivalent expended, paid or charged for something. See also actual cost costs net cost rate costing cost bond …   Black's law dictionary

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