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  Type of Standard

Type of Standard

The significant aspect is that what should be the level of standard from the point of attainment? Whether it should be very difficult to achieve or too easy to accomplish? In other words whether the standards set should be too high or too low? So from the standard of achievement, there can be the following types of standards.

1. Ideal Standard:

An ideal standard is a standard that can be achieved within the most favourable conditions. The supposed performance can be acquired only if all factors, like material and labour prices, highest output with best possible equipment and machinery, level of performance of employees highest level of competence and so on. In practice, it is very hard to accomplish this, like the combination of all favourable factors is approximately impossible. Therefore the utility of this standard is that it can be employed for comparatively long period of time with no alteration. Though, as the achievement is almost impossible, the employee might be frustrated because of the constant adverse variances.

2. Normal Standard:

This standard is the average standard that is achievable during the future period of time that may be long enough to cover one business cycle. This standard will be revised only after one business cycle is over and so frequent revision is not needed. Normal standard might be helpful for management in long term planning.

3. Basic Standard:

Basic Standard is the standard that is established for an unaltered make use of for an indefinite period that might be a very long period of time. Basic standards are revised very seldom, and therefore the fluctuations in the costs and prices are not reflected in this standard.

4. Expected Standard:

An Expected Standard is a standard that, it is anticipated, can be accomplished throughout a future particular standard period. This standard is fairly attainable; it is reliable and therefore fulfils all the purposes of a good standard. It gives incentive to enhance performance and obtain the better of the adverse conditions. After making allowance for the cost of normal spoilage these standards are formulated, cost of idle time because of machine breakdowns, and the cost of other events that are unavoidable in normal efficient operations. So, all the normal losses are taken into consideration. These standards are most precise and extremely useful to the management in product costing, inventory valuations, estimates, planning, analyses, and performance evaluation and employee motivation for managerial decision-making.

5. Historical Standard:

This is the average standard that has been acquired in the past. This standard tends to be a loose standard since there is a possibility that the average past performance might include inefficiencies that will be passed on the new standards. Though, the utility of these standards is that past performance can be employed as a bese for setting of standard in future.

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