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" Standard Cost System A system by which production activities are recorded at standard costs and variances from actual costs are isolated. Standard Costs Production or operating costs that are carefully predetermined. "
Financial Business Intelligence: Trends, Technology, Software Selection, and ... - Page 273
by Nils H. Rasmussen, Paul S. Goldy, Per O. Solli - 2002 - 304 pages
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What Every Engineer Should Know about Accounting and Finance

Shim - Technology & Engineering - 1994 - 256 pages
...costs Production or operating costs that are carefully predetermined. A standard cost is a target cost that should be attained. Standard cost system A system...variances from actual costs are isolated. Standard hours allowed The standard time that should have been used to manufacture actual units of output during...
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Budgeting Basics and Beyond

Jae K. Shim, Joel G. Siegel - Business & Economics - 2005 - 512 pages
...price of materials per unit. Sometimes the terms "standard" and "budget" are used interchangeably. Standard Cost System A system by which production...variances from actual costs are isolated. Standard Costs Production or operating costs that are carefully predetermined. A standard cost is a target cost...
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