STANDARD COSTING

STANDARD COSTING - the unit standard cost by multiplying...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
STANDARD COSTING: A MANAGERIAL CONTROL TOOL University of Houston-Downtown Frederick Jones 11/21/09
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Standard Costing Standards Two decisions must be made in order to determine the unit standard cost for an input: 1) Quantity Decision- Amount of input used per output. 2) Pricing decision- amount that should paid. The outcomes of these decisions are quantity and price standards. Thus, you can compute
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: the unit standard cost by multiplying quantity standard * price standard. Development of Standards The three sources of quantity standards are historical experience, engineering studies, and input from operation personnel. • Historical experience- sets initial guidelines • Engineering studies-...
View Full Document

This note was uploaded on 02/19/2010 for the course ACC 3330 taught by Professor Davis during the Spring '98 term at Texas A&M.

Page1 / 2

STANDARD COSTING - the unit standard cost by multiplying...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online