standard costing

Tag: standard costing

Standard Costing Example

See Also: Standard Costing System Standard Costing Example Here is a simple standard costing example. Let’s take a company that makes widgets. Based on historical data, a cost analyst determines that producing one widget typically requires 1 pound of raw material costing $2 dollars and 1 hour of labor costing $20 dollars. These are the

Read More
Scroll to Top
WIKICFO® - Browse hundreds of articles
Skip to content