Standard Overhead Cost

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Definitions
Standard Overhead Cost
Standard Overhead Cost Standard Costing Fixed Overhead Variable Overhead Overhead Absorption Rate Production Costs Management Accounting Financial Performance
A standard cost for the fixed and/or variable overhead of an operation derived from the standard time allowed for the performance of the operation or the production of a product and the standard overhead absorption rate per unit of time for that operation or product.
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Definitions
Total Standard Profit
Total Standard Profit Standard Selling Prices Standard Overhead Cost Cost Management Financial Performance Business Benchmarks
Total Standard Profit represents the difference between the sales at standard selling prices and the standard overhead cost of these sales. It is used to evaluate the performance of a business against its predefined cost and sales benchmarks.
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