Answer Posted / kanika
Standard cost is like budgeted cost or estimates cost for a
unit.
Standard cost-actual cost=Vairance in + or - can determine
cost difference for which reason can be find out to reduce
the cost or match with standard cost.
actual cost should less or match with standard cost.
Another defination
Standard cost: cost has accured for same units or product
in past years.
| Is This Answer Correct ? | 3 Yes | 1 No |
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