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    amir980's Avatar
    amir980 Posts: 1, Reputation: 1
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    #1

    Nov 6, 2016, 02:32 AM
    Budgeting and standerd costs
    What is it budgeting and Standard Costs?
    -The use of Cost Standard
    - Developing Standard
    Theoretical - Piratical Standards
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Nov 7, 2016, 10:34 PM
    Piratical Standards
    Not quite sure what you mean. Standard costs are developed from actual data. Budgets might be used to set a standard for labour rates and overhead costs. In this sense they might be thought of as theoretical

    A standard is a cost against which actual performance is measured
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