An Ernst and Young survey in 2003 found that 76 percent of U.S. manufacturing companies reported that they used standard costs.
What ARE the disadvantages of standard costing?
features of standard costing
http://www.futureaccountant.com/standard-costing-variance-analysis/ http://www.futureaccountant.com/standard-costing-variance-analysis/
standard costing and variance analysis
Compare Standard costing vs variance analysis?"
Standard costing is process of determining the standard price require to produce one unit of product while actual costing system uses the actual prices of manufacturing one unit of product.
Job Order Costing Operation Costing Normal Costing Actual Costing Standard Costing Kaizen Costing Target Cost
Standard costing will be the price for something. Mostly in every store. The target costing is when one says what one is willing to pay and they can negotiate the cost.
Standard costing is a set target where it is used as a goal to monitor progress
One can use FIFO, LIFO, or Average Costing as acceptable methods for accounting. Standard costing would be an unacceptable answer.
angiyazi
Imposing standard costs without communicating in an honest, candid manner will undermine much of the perceived value of such costing.