Standard cost:
"A cost estimate based on standard labour hours, material and overhead costs. "

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Definitions of terms related to Standard cost:

• Acquisition cost
• Actual cost
• cost of goods sold (COGS)
• period cost
• Planned cost
• process costing
• Product costing
• product costs
• project costing
• Setup costs
• Standard deviation
• Standard time
• Stockout costs
• Storage costs