Understanding Cost Accounting: A Comprehensive Guide to Cost Management and Decision Making
Standard costing assigns “standard” costs, rather than actual costs, to its cost of goods sold (COGS) and inventory. The standard costs are based on the efficient use of labor and materials to produce the good or service under standard operating conditions, and http://www.dogsfiles.com/index.php?ind=dogsbase&breed=162&op=analysis&did=89217 they are essentially the budgeted amount. Even though standard costs are assigned […]