Module+15000+I+Introduction+and+Learning+Objectives

I. Module 15000 Introduction and Learning Objectives ajh ** Chapter 9 ** ** Standard Costing **

The first part of Chapter 9 discusses the calculations for unit input standards for products or services. These standards will give us more in-depth information to help us determine the reasons for variances (differences) in price and/or quantity. Management can then use this information to determine the best standard cost for a product or service.

1) Input standards and the standard costing systems 2) Standard cost sheets and their uses 3) Direct materials and direct labor variances and journal entries
 * __Learning Objectives:__**

(Cornerstones of Cost Accounting, Chapter 9, Hansen and Mowen. South-Western Cengage Learning.)

Definition: A **standard cost** is a predetermined cost to produce a single product, unit, service, etc. (http://www.accountingformanagement.com/standard_costing_variance_analysis.htm)