Standard Costing
Introduction to Management Accounting
Lecture: Albert De Jonge
Student: John Alejandro Eusse Agudelo
Submission date: 20/04/12
Content page
Introduction 3
Standard Cost 3
History of Standard Costing 4
Disadvantage of Standard Cost 4
Advantage and benefits of Standard Costing 5 & 6
The relevance of standard in Brittan and rest of the world 6
Overhead 7
Conclusion 8
Reference and Bibliography 9
Introduction
This report is based on the relevance of standard costing in Modern Britain, the report will include so fact and evidence that standard costing is relevant or not relevant for a 21st century Britain.
To clarify more on this topic and to support my argument and discussion it will be necessary to use empirical evidence such as case studies from social scientist and scholars specialised in the subject.
The assignment will focus on how standard costing is relevant in the UK compare to Germany and Japan. The aim of this report will be to present an argument for and against standard -costing. My findings will determine what evidence to use so that, the report will be unbiased and well presented according to the assessment task.
Lastly there will be difference between standard price and standard cost, this will be made clear and explain further. My research will be done through Internet source textbooks.
Standard Cost
“Standard cost is usually associated with a Manufacturing Company’s cost of material and direct labour and manufacturing overhead”.
Standard cost is different from Actual cost because standard cost is an estimate put together, Standard costing is a reliable technique used to manage and improve the performance of an organisation, standard costing can be seen to the same or similar to
Lecture: Albert De Jonge
Student: John Alejandro Eusse Agudelo
Submission date: 20/04/12
Content page
Introduction 3
Standard Cost 3
History of Standard Costing 4
Disadvantage of Standard Cost 4
Advantage and benefits of Standard Costing 5 & 6
The relevance of standard in Brittan and rest of the world 6
Overhead 7
Conclusion 8
Reference and Bibliography 9
Introduction
This report is based on the relevance of standard costing in Modern Britain, the report will include so fact and evidence that standard costing is relevant or not relevant for a 21st century Britain.
To clarify more on this topic and to support my argument and discussion it will be necessary to use empirical evidence such as case studies from social scientist and scholars specialised in the subject.
The assignment will focus on how standard costing is relevant in the UK compare to Germany and Japan. The aim of this report will be to present an argument for and against standard -costing. My findings will determine what evidence to use so that, the report will be unbiased and well presented according to the assessment task.
Lastly there will be difference between standard price and standard cost, this will be made clear and explain further. My research will be done through Internet source textbooks.
Standard Cost
“Standard cost is usually associated with a Manufacturing Company’s cost of material and direct labour and manufacturing overhead”.
Standard cost is different from Actual cost because standard cost is an estimate put together, Standard costing is a reliable technique used to manage and improve the performance of an organisation, standard costing can be seen to the same or similar to