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standard cost

noun
1.
a predetermined cost of material, labor, etc., based on specifications prepared from time-and-motion studies, accounting records, and the like.
Compare actual cost.
Origin
1930-1935
1930-35
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for standard-cost

standard cost

noun
1.
(accounting) the predetermined budgeted cost of a regular manufacturing process against which actual costs are compared
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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10
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