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standard cost

Meaning of "standard cost" in the English dictionary

DICTIONARY

PRONUNCIATION OF STANDARD COST

standard cost


GRAMMATICAL CATEGORY OF STANDARD COST

noun
adjective
verb
adverb
pronoun
preposition
conjunction
determiner
exclamation
Standard cost is a noun.
A noun is a type of word the meaning of which determines reality. Nouns provide the names for all things: people, objects, sensations, feelings, etc.

WHAT DOES STANDARD COST MEAN IN ENGLISH?

Cost accounting

Cost accounting is a process of collecting, analyzing, summarizing and evaluating various alternative courses of action. Its goal is to advise the management on the most appropriate course of action based on the cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future. Since managers are making decisions only for their own organization, there is no need for the information to be comparable to similar information from other organizations. Instead, information must be relevant for a particular environment. Cost accounting information is commonly used in financial accounting information, but its primary function is for use by managers to facilitate making decisions. Unlike the accounting systems that help in the preparation of financial reports periodically, the cost accounting systems and reports are not subject to rules and standards like the Generally Accepted Accounting Principles. As a result, there is wide variety in the cost accounting systems of the different companies and sometimes even in different parts of the same company or organization.

Definition of standard cost in the English dictionary

The definition of standard cost in the dictionary is the predetermined budgeted cost of a regular manufacturing process against which actual costs are compared.

WORDS THAT BEGIN LIKE STANDARD COST

standard amenities · standard assessment tasks · standard assessment tests · standard attainment tests · standard candle · standard cell · standard class · standard clause · standard deviation · Standard English · standard error · standard function · standard gauge · standard generalized mark-up language · Standard Grade · standard housing benefit · standard issue · standard lamp · standard model · standard normal distribution

WORDS THAT END LIKE STANDARD COST

accost · alecost · at any cost · baseline cost · capital cost · cost · distribution cost · factor cost · low-cost · oncost · opportunity cost · Pentecost · plant cost · prime cost · replacement cost · unit cost · variable cost

Synonyms and antonyms of standard cost in the English dictionary of synonyms

SYNONYMS

Translation of «standard cost» into 25 languages

TRANSLATOR

TRANSLATION OF STANDARD COST

Find out the translation of standard cost to 25 languages with our English multilingual translator.

The translations of standard cost from English to other languages presented in this section have been obtained through automatic statistical translation; where the essential translation unit is the word «standard cost» in English.
zh

Translator English - Chinese

标准成本
1,325 millions of speakers
es

Translator English - Spanish

costo estándar
570 millions of speakers
en

English

standard cost
510 millions of speakers
hi

Translator English - Hindi

मानक लागत
380 millions of speakers
ar

Translator English - Arabic

التكاليف القياسية
280 millions of speakers
ru

Translator English - Russian

стандартная стоимость
278 millions of speakers
pt

Translator English - Portuguese

custo padrão
270 millions of speakers
bn

Translator English - Bengali

নির্ধারিত মূল্য
260 millions of speakers
fr

Translator English - French

coût standard
220 millions of speakers
ms

Translator English - Malay

Kos standard
190 millions of speakers
de

Translator English - German

Standard-Kosten-
180 millions of speakers
ja

Translator English - Japanese

標準原価
130 millions of speakers
ko

Translator English - Korean

표준 비용
85 millions of speakers
jv

Translator English - Javanese

Biaya standar
85 millions of speakers
vi

Translator English - Vietnamese

chi phí tiêu chuẩn
80 millions of speakers
ta

Translator English - Tamil

நிலையான செலவு
75 millions of speakers
mr

Translator English - Marathi

मानक खर्च
75 millions of speakers
tr

Translator English - Turkish

Standart maliyet
70 millions of speakers
it

Translator English - Italian

costo standard
65 millions of speakers
pl

Translator English - Polish

standardowy koszt
50 millions of speakers
uk

Translator English - Ukrainian

стандартна вартість
40 millions of speakers
ro

Translator English - Romanian

cost standard
30 millions of speakers
el

Translator English - Greek

πρότυπο κόστος
15 millions of speakers
af

Translator English - Afrikaans

standaard koste
14 millions of speakers
sv

Translator English - Swedish

standardkostnad
10 millions of speakers
no

Translator English - Norwegian

standard pris
5 millions of speakers

Trends of use of standard cost

TRENDS

TENDENCIES OF USE OF THE TERM «STANDARD COST»

Principal search tendencies and common uses of standard cost
List of principal searches undertaken by users to access our English online dictionary and most widely used expressions with the word «standard cost».

Examples of use in the English literature, quotes and news about standard cost

EXAMPLES

10 ENGLISH BOOKS RELATING TO «STANDARD COST»

Discover the use of standard cost in the following bibliographical selection. Books relating to standard cost and brief extracts from same to provide context of its use in English literature.
1
Updating standard cost systems
This book is directed primarily towards accountants and managers needing to improve informational content of accounting data for decision-making purposes.
Carole Cheatham, Leo R. Cheatham, 1993
2
Cost Management: Accounting and Control
STANDARD COST SHEETS Standard costing systems can be used in both manufacturing and service organizations. Explain the purpose of a Both products and services use inputs such as direct materials, direct labor, and overhead.
Don Hansen, Maryanne Mowen, Liming Guan, 2007
3
Cost Accounting: Foundations and Evolutions
This chapter discusses a traditional standard cost system that provides price and quantity standards for each cost component: direct material, direct labor, and manufacturing overhead. The chapter discusses why standard cost systems are ...
Michael Kinney, Cecily Raiborn, 2012
4
Standard Costing, Variance Analysis and Decision-Making
This report is divided into two parts.
Alexander Berger, 2011
5
Standard Cost-finding System: Principles and General ...
Principles and General Information Regarding the Use of the Standard Cost- finding System Together with a List of Operations in the Various Departments of the Printing Business, Classified to Show the Productive and Non-productive Items ...
United Typothetae of America, 1920
6
Standard Cost Finding Course for Printers
Professional and practical accountants have united in their endorsement of these principles and the United States Federal Trade Commission, on August 24, 1916, after its Board of expert accountants had examined the Standard Cost Finding ...
United Typothetae of America. Dept. of Education, 1919
7
Essentials of Cost Accounting for Health Care Organizations
The Third Edition Has An Increased Emphasis On Managed Care As Well As A New Computer-Based Component.
Steven A. Finkler, David Marc Ward, Judith J. Baker, 2007
8
Cost Accounting
Meaning of Standard Cost The word 'standard' means a norm or criterion. Generally, standard cost is a cost which is determined in advance for a normal operation of efficiency of operation and which is used periodically as a basis for ...
SP Gupta, Ajay Sharma, Vikram Thakur
9
Cost and Management Accounting: An Introduction for Students
STANDARD COSTS A standard cost is a predetermined calculation of how much costs should be under certain specified working conditions. Standards are compiled from the various cost elements which are incurred to make a product, e.g. ...
MR Alan V Pizzey, 1989
10
Cost Accounting: Methods and Problems
(6) Standard cost card : When all the above standards are established, they are recorded in a standard cost card. Such a card is made out for each product to show the quantity and price of each item of material required, the grade of labour,  ...
B. K. Bhar, 1976

2 NEWS ITEMS WHICH INCLUDE THE TERM «STANDARD COST»

Find out what the national and international press are talking about and how the term standard cost is used in the context of the following news items.
1
Apptio Delivers The Industry's First Standard IT Operating Model …
ATUM allows every IT organization to adopt a standard approach for managing the business of IT and includes standard cost, cost categories, and data models, ... «PR Newswire, Aug 14»
2
Flight delays cost $32.9 billion, passengers foot half the bill
The cost of domestic flight delays puts a $32.9 billion dent into the U.S. ... Costs were measured by assigning a standard cost to time, plus other travel expenses. «UC Berkeley, Oct 10»
REFERENCE
« EDUCALINGO. Standard cost [online]. Available <https://educalingo.com/en/dic-en/standard-cost>. May 2024 ».
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