Standard Costing: Introduction, Advantages, Formula and Example
In this article we will discuss about:- 1. Introduction to Standard Costing 2. Purposes and Advantages of a Standard Costing System 3. Limitations 4. Setting Standard Costs 5. Standard Hour- Variance Ratios 6. Standard Cost Book Keeping 7. Summary. Standard Costing: Introduction , Advantages, Formula and Example! Introduction to Standard Costing: Standard costing system is not a distinct system of accounting. [...]