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standard cost

noun

  1. a predetermined cost of material, labor, etc., based on specifications prepared from time-and-motion studies, accounting records, and the like.


standard cost

noun

  1. accounting the predetermined budgeted cost of a regular manufacturing process against which actual costs are compared
“Collins English Dictionary — Complete & Unabridged” 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012


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Word History and Origins

Origin of standard cost1

First recorded in 1930–35
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Example Sentences

The standard cost for most of the old English vials under the British monopoly had been $5.50 a gross.

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standard coinstandard deviation