CRD Business Consulting LLC


ph: 817-312-6876

chris.dedera@costmgmt.com

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Standard Costing

Standard costing uses predetermined standards to calculate the cost of products and services.  Standard costing is used heavily in manufacturing environments to facilitate the valuation of inventory and manage performance against the standard costs.

Standards are typically set for:

  • Material
  • Labor
  • Overhead

Standard costing is not an assignment method as standards can be created using various assignment methods such as direct costing and Activity-Based Costing.

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ph: 817-312-6876

chris.dedera@costmgmt.com