performance standard

In standard costing, the standard level of performance to be achieved during a period. For example, a standard performance for direct labour of two standard hours to complete a task would be combined with the rate per standard hour for labour to create the standard direct labour cost for the task.

Accounting dictionary. 2014.

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  • standard performance — standard operator performance A predetermined level of performance for an operator or a process used as a basis for determining standard overhead costs. For example, standard performance may be expressed as the number of units of production per… …   Accounting dictionary

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