product costing issue

[Former Member]

Respected Gurus,

i have some issues in product costing

1 what is standard cost and standard cost estimates

2 what are the repetitive manufacturing industries,how product costing is used.

regards

jana

[Former Member]

Hi,

1.U run the Std Cost estimate for the materials/orders for a given period. Once u mark and release, this Std Cost Estimate will become the std cost.

2. Repetitive Manufacturing indicates, u produce material in more or less in std procedure in terms of proceeses, material components and other activities over a period of time. Material Costing by period may be better option for these industries...

Eg: Chemical Industries, Auto Component Industries etc...

Regards

Sudhakar Reddy