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COSTS, STANDARD
COSTS, STANDARD
ScnAdmin
a
projection
of the
cost
of
producing
something based upon the
normal
expenditures required to
produce
that
product
under current or expected
economic
conditions
. The calculation of
standard costs
is important in discovering the
source
of overexpenditures or inefficiencies in the
utilization
of
resources
or manufacture of
goods
.