Question
Which of the following statement is true regarding
standard costing?Solution
Standard cost is set on the basis of management’s estimation. Cost is estimated on the basis of technical specification provided by the engineering department or other expert such as production engineer. Generally, while setting standards, consideration is given to historical data, current production plan and expected conditions of future. Standard costing is different from budgeting. Standard costs are used to set budgets and based on these budgets managerial performance is evaluated. Standard costing is most widely used in manufacturing industry but may be applied in various other industries too.
The two states where National Kamdhenu Breeding Centers have been established under the Rashtriya Gokul Mission
If the dry matter yield of maize grain is 2000kg and moisture % in grain is 15% then what will be the grain yield?Â
Which is a low-pressure, high efficiency irrigation system that uses buried drip tubes or drip tape to meet crop water needs.
Where is the ICAR-Central Institute for Arid Horticulture located?
Which of the following is used as a maturity index for Cabbage?
What type of chromosomal disorder is Edwards syndrome?
Nitrogen supplied by 400 kg of DAP is
Scientific name of soybean is:Â
The order _________ is mentally the most highly evolved of all insects:
Which of the implementing agency for the Centrally Sponsored Project for Computerization of PACs?