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Standard cost is that cost which is budgeted at start of production while actual cost is that cost which actually incurred by business both of them can be same if actual cost incurred is same as allocated or determined in budgeting process using standard cost otherwise there will be difference.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoStandard cost is that cost which is budgeted at start of production while actual cost is that cost which actually incurred by business both of them can be same if actual cost incurred is same as allocated or determined in budgeting process using standard cost otherwise there will be difference.
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What is the difference between Standard Cost and Actual Cost?
In standard costing system standard costs for all activities are established for better controlling purpose as well as budgeting purpose so standard cost is that cost which is management expects to occurs if some activity is performed but actual cost is the cost which actually spend to perform specific activity and both costs may be same or different due to many reasons and variance analysis is done to find out the reasons for differences.
Are standard of living and cost of living same?
yes
How much does a ford f650 cost?
$170,000 for a standard F-650. A 6 door is probable close to the same cost.
How do you calculate the cost of a unit using actual costing?
Actual costing uses the the actual costs incurred to calculate cost per unit. All you need is the actual costs and the number of units produced/manufactured, divide the two and you will have your actual cost per unit. The same process for overhead allocation as well. The actual overhead costs are allocated on a rate that is based on actual costs. Actual costing is a delayed analysis.
Is fixed cost the same as indirect cost?
NO both are not same as fixed cost is cost which remains fixed with change in production level while indirect cost is that cost which is not directly related for the production of units.
Past participle of cost?
It is the same: cost.
What is the past tense of cost?
It is "cost" (same form as present tense).
What is the cost of Microsoft Flight Simulator X Standard Edition?
2017 - $20 average - the same for the basic steam edition
How many 1st class UK stamps to send a letter from UK to France?
A standard letter up to 100grams within the UK will cost 63p. The same letter going to France will cost £1.52
Are variable cost are always indirect cost?
No. Variable cost is the same as direct cost because it can be varied directly to the cost centre or cost unit,while indirect cost can't be varied directly to it cost centre or cost unit.
Does it cost to view itv.com?
Viewing ITV does not cost anything. ITV makes it's money the same way standard tv does, through advertising. ITV provides several options for limiting content aswell.
What is the cost of a large egg?
the cost of an extra large egg has the same cost on an extra large DICK
