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What are the components of standard costing?

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What are the components of standard costing?

Postprzez accountingbyte 15 Maj 2024, 13:30

reklama
The components of a standard cost are the standard direct materials cost, standard direct labor cost, and standard overhead cost. The elements are derived from the determined rates or prices for materials, labor, and overhead, thus businesses can estimate the standard cost of a product or service.
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What are the components of standard costing?

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