standard costing
noun[CorU]
ACCOUNTINGukusasystemused forcalculatingtheexpectedcostof aproductby usingdatafromsimilarprojectstomeasureandcontroltherealcosts. Astandardcostingincludesashareofoverheadcosts(=generalbusinesscosts):
Thestandardcostingsystemis ahelpfultoolforcreatingabudgetfor thedevelopmentof a newproduct.