Can You Calculate The Standard Cost?
When standard quantity or hours are 3.5 pounds and 2.5 hours and standard price or rate are 4$ and 14$ respectively.
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Well dear,
Standard cost = standard quantity of hours x standard price or rate
Standard cost (first case) = 3.5 x 4 = $14
Standard cost (second case) = 2.5 x 14 = $35
standard cost
Standard cost = standard quantity of hours x standard price or rate
Standard cost (first case) = 3.5 x 4 = $14
Standard cost (second case) = 2.5 x 14 = $35
standard cost
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