A company that makes a variety of highly individualized and specialized made-to-order goods, using a variety of inputs, would find it more difficult to inplement standard costing than would a company that makes a simple, highly stardardized product. Standard costing can also be inappropriate when the cost of inputs fluctuates wildly.
What ARE the disadvantages of standard costing?
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.
Methods of Costing The cost of products or services is determined using several methods. The use of a given method is dictated by such factors as: the nature of cost units, the production process, the mode of cost accumulation, the duration of work etc. The following are the well established methods of costing a. Job / Batch costing b. Contract costing c. Process costing d. Service costing Techniques of Costing Irrespective of the type of costing method being applied there are various approaches that could be adopted. These are:  Full Absorption costing  Marginal costing  standard costing using  absorption costing  marginal costing
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.
It is old costing technique & it is replaced by activity based costing
A company that makes a variety of highly individualized and specialized made-to-order goods, using a variety of inputs, would find it more difficult to inplement standard costing than would a company that makes a simple, highly stardardized product. Standard costing can also be inappropriate when the cost of inputs fluctuates wildly.
Imposing standard costs without communicating in an honest, candid manner will undermine much of the perceived value of such costing.
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
Methods of Costing The cost of products or services is determined using several methods. The use of a given method is dictated by such factors as: the nature of cost units, the production process, the mode of cost accumulation, the duration of work etc. The following are the well established methods of costing a. Job / Batch costing b. Contract costing c. Process costing d. Service costing Techniques of Costing Irrespective of the type of costing method being applied there are various approaches that could be adopted. These are:  Full Absorption costing  Marginal costing  standard costing using  absorption costing  marginal costing
Standard costing is a set target where it is used as a goal to monitor progress