Time management is very much important in IIT JAM. The eduncle test series for IIT JAM Mathematical Statistics helped me a lot in this portion. I am very thankful to the test series I bought from eduncle.
Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
N. K. Gupta posted an Question
September 17, 2021 • 16:31 pm
![]()
30 points
30 points
- UGC NET
- Commerce
Diffrence between standerd coat and estimated cost in simple difination
diffrence between standerd coat and estimated cost in simple difination
1 Answer(s)
Answer Now
- 0 Likes
- 1 Comments
- 0 Shares
Do You Want Better RANK in Your Exam?
Start Your Preparations with Eduncle’s FREE Study Material
- Updated Syllabus, Paper Pattern & Full Exam Details
- Sample Theory of Most Important Topic
- Model Test Paper with Detailed Solutions
- Last 5 Years Question Papers & Answers
Sign Up to Download FREE Study Material Worth Rs. 500/-
Rucha rajesh shingvekar Best Answer
A standard cost is an estimated expense that normally occurs during the production of a product or performance of a service. In other words, this is theoretically the amount of money a company will have to spend to produce a product or perform a service under normal conditions. Standard costing is the practice of estimating the expense of a production process. For example, to plan their costs for the coming year on various expenses such as direct material, direct labor or overhead. Estimated cost is the projection of the amount of costs that will be incurred to build a product or construct something. This amount is derived as part of the capital budgeting process for an internal project, or as part of a sales bid when attempting to sell to a customer.