STANDARD COST Definition

Bookmark and Share

STANDARD COST is production or operating cost that is carefully predetermined. A standard cost is a target cost that should be attained. The standard cost is compared with the actual cost in order to measure the performance of a given costing department or operation. See STANDARD COST SYSTEM.

Learn new Accounting Terms

REIT is Real Estate Investment Trust.

DISTRIBUTION CHANNEL is a way of selling a company's product either directly or through distributors, e.g. wholesalers or small retailers.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.