standard cost

American  

noun

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

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standard cost British  

noun

1. accounting the predetermined budgeted cost of a regular manufacturing process against which actual costs are compared

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Etymology

Origin of standard cost

First recorded in 1930–35

Example Sentences

The following year, a consortium of Canadian farmers arranged to import a shipload of Russian fertilizer through Churchill’s port, saving about 10 percent on the standard cost.

From New York Times • Nov. 4, 2021

And it’s very pricey — the standard cost for a single-room setup is an eye-watering $6,100, and tacking on additional rooms costs $3,100 each, according to the company.

From The Verge • May 28, 2020

The standard cost of hosting data in Frankfurt is 8% more expensive than Amazon’s least expensive U.S. facilities, such as those in Virginia, the company said.

From The Wall Street Journal • Aug. 4, 2016

While that may be the standard cost, there are plenty of advisors that charge 0.5 percent or less.

From US News • Jun. 23, 2014

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

From Old English Patent Medicines in America by Griffenhagen, George B.