Standard Cost

From BCMpedia. A Wiki Glossary for Business Continuity Management (BCM) and Disaster Recovery (DR).
Revision as of 12:47, 25 August 2010 by Admin (talk | contribs) (Created page with '{| style="margin-left: 0px; text-align: left; font-style: none; width:100%; font-weight: none; background: #F0F0F0; border:1px " | '''1.''' Coming soon. {{Bcm Institute Source}}…')
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search
1. Coming soon.

(Source: Business Continuity Management Institute - BCM Institute)

2. A predetermined calculation of how many casts should be under specified working conditions. It is built up from an assessment of the value of cost elements and correlates technical specifications and the quantification of materials. labour and other costs to the prices and/or wages expected to apply during the period in which the standard cost is intended to be used. Its main purposes are to provide bases for control through variance accounting, for the valuation of work in progress and for fixing selling prices.

(Source: OGC, Information Technology Infrastructure Library (ITIL) v3)

Retrieved from "https://bcmpedia.org/w/index.php?title=Standard_Cost&oldid=15111"