Merits of standard costing
Write down the merits of standard costing?
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-It offers a standard for evaluating the effectiveness or ineffectiveness in performance.
-It makes easy the essential management purpose of cost control.
-It sets a normal that wants superior attempt and motivation to work to accomplish the same.
-It can be employed as a basis for price filing the tenders, fixation and submission the quotation.
-It makes easy allocation of authority and fascination of responsibility for each and every department or individual.
-To take the counteractive evaluates, the management requires evaluating the discrepancy from the standard.
-It gives means to promote acts to diminish cost.
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