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  • total standard production cost — In standard costing, the total of standard direct materials cost, standard direct labour cost, the standard fixed overhead cost, and the standard variable overhead cost …   Big dictionary of business and management

  • total standard cost — In standard costing, the total standard production cost plus the standard cost allowance for the non production overhead …   Big dictionary of business and management

  • total standard cost — The total standard production cost plus the standard cost allowance for the non production overhead …   Accounting dictionary

  • production cost variance — In standard costing, the variance arising when the standard cost of the actual production is compared with the actual cost incurred. If the standard cost is higher than the actual cost a favourable variance arises, while if the actual cost… …   Accounting dictionary

  • cost — Expense; price. The sum or equivalent expended, paid or charged for something. See also actual cost costs net cost rate costing cost bond …   Black's law dictionary

  • Cost-plus pricing — is a pricing method used by companies to maximize their profits. The firms accomplish their objective of profit maximization by increasing their production until marginal revenue equals marginal cost, and then charging a price which is determined …   Wikipedia

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  • Cost accounting — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia

  • Cost of goods sold — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia

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