What ARE the disadvantages of standard costing?
Nothing :)
Standard costing is process of determining the standard price require to produce one unit of product while actual costing system uses the actual prices of manufacturing one unit of product.
Standard costing is a set target where it is used as a goal to monitor progress
Standard costing will be the price for something. Mostly in every store. The target costing is when one says what one is willing to pay and they can negotiate the cost.
The advantages are that you will be able to get more things for the business. The disadvantages are that they are a lot of costs.
features of standard costing
http://www.futureaccountant.com/standard-costing-variance-analysis/ http://www.futureaccountant.com/standard-costing-variance-analysis/
standard costing and variance analysis
Nothing :)
Compare Standard costing vs variance analysis?"
Standard costing is process of determining the standard price require to produce one unit of product while actual costing system uses the actual prices of manufacturing one unit of product.
Job Order Costing Operation Costing Normal Costing Actual Costing Standard Costing Kaizen Costing Target Cost
Standard costing is a set target where it is used as a goal to monitor progress
Standard costing will be the price for something. Mostly in every store. The target costing is when one says what one is willing to pay and they can negotiate the cost.
The advantages are that you will be able to get more things for the business. The disadvantages are that they are a lot of costs.
angiyazi
Imposing standard costs without communicating in an honest, candid manner will undermine much of the perceived value of such costing.