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Meaning of standard costing
Standard costing method is a technique of control which by the planning and control of per unit manufacturing cost retains the total cost at lowest level. Under this method the cost at of every unit is predetermined on some scientific grounds and it is arrange that the costs are not more than the predetermined standards . For this purpose the predetermined standards are compared with the actual costs and the variances are traced in the different elements of cost.
The following are the important definitions of standard costing.
(1) costing “A standard cost system is a method of cost accounting in which standard costs are used in recording certain transactions and the actual costs and are compared with the standard cost to learn the
amount and reason for any variation from the standard.”
(2) “Standard costing is a system of costing where a comparison is made of actual cost with a predetermined standard and the cost of any deviations is analyzed by causes. This method permits management to investigate the reasons for these variances and to take suitable corrective action. It is therefore a system of cost control as well as cost ascertainment.”
Characteristics of Standard costing
From the above definitions of standard costing the following elements or characteristics are disclosed:
(1) Determination of standard costs: under this meted the standards of cost per unit of materials labor and overheads are determined separately on the prior experience future conditions and on some scientific base.
(2) Recording of actual costs: under it proper recording of actual expenses incurred is made.
(3) Comparative analyses: the actual costs are compared with predetermined slandered and the variances are calculated in relation to every element of production and causes of variances ate traced.
(4) Improve mental action: by analyzing the variances properly the efforts are made to eliminate them which are responsible for these variances.
Objective of standard costing
For adopting the standard costing following are main objrcts:
(i) to establish the control on all elements of cost effecting the production.
(ii) To make the efforts to increase the efficiency and productivities of all factors of production.
(iii) To record the data of increase or decrease of production sales and profits.
(iv) To provide the information to managers regarding the variances and their causes.
(v) to make the sound effort of awaking the initiative among the employees.
(vi)
To make the control self- effective.
(vii) To develop the mental sight of allevels of management for seeing the future events.
Advantage of standard Costing
(1) Control on costs: the comparison of standard cost with actual cost under standard costing is continuously carried in by which the cases of increasing cists are traced unneduateky and by the amendment the proper control of cost can be maintained.
(2) Economy: in comparison of other cost control methods this method is more economic and provides more information.
(3) Use of full production capacity: by this method the complete information of different production capacity.
(4) The best use of material: under this method the use of material and the effects of changes in it can by known by which the best use of material can be possible.
(5) Knowledge of the efficiency of labors: by this method the efficiency of labor can also be obtained easily by which the determination of wares became convenient.
(6) Helpful in planning the management get help in making the future planning by it because by the extensive study of pre – determine standards and actual performance the future pre-estimates become easy.
(7) Production and price policies: by adopting the standard costing the detailed cost accounting is not necessary; on this base the manager can prepare the policies of ideal production and price policies.
Classification of Cost variances
Cost variance
Material cost cost
labour cost
overhead
Material price material usage fixed overhead Variance variance variance variance
variable overhead
Material mix material sub –usage fixed overhead Variance cost variance variance
Labour rate expenditure Variance variance
labour efficiency valume variance variance
Idle time labour mix labour yield efficiency capacity Variance variance variance variance variance
Revised
calendar Capacity varance
Varance
Project Report
(2012-2013)
SUBMITED FOR
BACHLOR OF COMMERCE & COMPUTER APPLICATION
[BCOM(CA) vi Sem )
MAJOR PROJECT 2013
APSU, REWA (M.P.)
SUBMITED BY GUIDED BY
Mr. ABHIJEET PANDEY Mr. DHRENDRA GARG
(Mr. PARAS SEN)
VANIJYA MAHAVIDYALAYA, SATNA (M.P.)
CERTIFICATE
This is to certify that Mr.ABHIJEET PANDEY & Mr.DHRENDRA GARG has completed his Major Project work for during the academic year 2013 in the partial fulfillment of the award of BCOM.(CA) VI SEMESTER.
Internal Examiner
(Mr. VINAY SHRIVASTAVA)
External Examiner
VANIJYA MAHAVIDYALAYA, SATNA (M.P.)
CERTIFICATE
This is to certify that Mr.ABHIJEET PANDEY & Mr.DHRENDRA GARG has completed his Major Project work
2013 BCOM.(CA) VI
SEMESTER.
Project Guide (Mr.Paras sen)
Principle (Mr. RIYAZUDDIN KHAN)
VANIJYA MAHAVIDYALAYA, SATNA (M.P.)
Self certificate I hereby declared that the all project works entitled
Has been successfully completed by Us
In partial fulfillment for
BACHLOROFCOMMERCE&COMPUTERAPPLIC B.COM(CA)VI Sem .
Awarded By
APSU ,REWA (M.P.)
During the academic session 2013 under guidance of Mr. PARAS SEN This project has not been submitted for the award of any examination.
Candidate
Mr.ABHIJEET PANDEY Mr.DHRENDRA GARG
ACKNOWLEDGEMENT
we wish to acknowledgement with deep gratitude the valuable assistance received by us form our guide Mr.PARAS KUMAR SEN. Who guided and encouraged us throughout the development of this project. We would like to very many thanks Mr. VINAY SHRIVASTAVA for his valuable suggestion. It is due to encouragement provided by him that projects could its final stage.
We also acknowledge our to Mr. Mo. RIYAZUDDIN KHAN(Principal) other lecturer’s friends. Who us in the satisfactory completion of this project
We also acknowledge our to Mr. ASHOK MISHRA (Director) other lecturer’s friends. Who us in the satisfactory completion of this project. Finally we specially thanks our parents and the near dear once who are the another of our lives for their support and understanding.
Mr.ABHIJEET PANDEY Mr.DHRENDRA GARG
DECLARATION
We hereby affirm that the project report titled “ LIBRARY MANAGEMENT ”submitted by us to Vanijya mahavidyaya, satna(M.P.),for consideration of BACHLOR OF COMMERCE &COMPUTER APPLICATION(B.COM(CA)) embodies our work,except the and suggestions received during the work which has been duly acknowledged.
Mr.ABHIJEET PANDEY Mr.DHRENDRA GARG
AWDESH PRATAP SINGH UNIVERSITY REWA (M.P.)
PROJECT WORK EVALUATION 1. Candidates Roll No…………………………………………………………….. 2. name…………………………………………………………………………….. 3. Project Title………………………………………………………………………. 4. Software Base…………………………………………………………………… 5. Sponsoring Institute Address…………………………………………………… 6. Submitted for course & Year……………………………………………………; 7. Study Center Code, name, Address………………………………………………. 8. Total Internal assessment and exam work evaluation………………………….. Particular Mark out of Marks awarded Internal Examiner’s Name Signature
8. .Forwarding by Head of Study Center…………………………………………… (Signature Name and study counterseal)……………………………………………. 9 Remarks of study center…………….………………………………….................. 10-University project Examiner’s Evaluation Total marks awarded……………………………………… Details of evaluation along with name and sing of university Examiner. Roll no Enrollment no Marks Awarded Internal Examiner’s Name & Signature
11. Remarks of University Examiner……………………………………………………
CONTENTS
1. 2. Preface Package used : ………..Visual Basic 6.0(VB) ………..MS Access 2003 3. 4. 5. 6. 7. 8. 9. 10. Layout 11. How to use the system 12. Limitation 13. Conclusion 14. Bibliography Introduction Problem Study H/W & S/W requirements About The System Development Life Cycle Data Flow diagram of the project E-R Diagram of the project Structure of database
Standard costing method is a technique of control which by the planning and control of per unit manufacturing cost retains the total cost at lowest level. Under this method the cost at of every unit is predetermined on some scientific grounds and it is arrange that the costs are not more than the predetermined standards . For this purpose the predetermined standards are compared with the actual costs and the variances are traced in the different elements of cost.
The following are the important definitions of standard costing.
(1) costing “A standard cost system is a method of cost accounting in which standard costs are used in recording certain transactions and the actual costs and are compared with the standard cost to learn the
amount and reason for any variation from the standard.”
(2) “Standard costing is a system of costing where a comparison is made of actual cost with a predetermined standard and the cost of any deviations is analyzed by causes. This method permits management to investigate the reasons for these variances and to take suitable corrective action. It is therefore a system of cost control as well as cost ascertainment.”
Characteristics of Standard costing
From the above definitions of standard costing the following elements or characteristics are disclosed:
(1) Determination of standard costs: under this meted the standards of cost per unit of materials labor and overheads are determined separately on the prior experience future conditions and on some scientific base.
(2) Recording of actual costs: under it proper recording of actual expenses incurred is made.
(3) Comparative analyses: the actual costs are compared with predetermined slandered and the variances are calculated in relation to every element of production and causes of variances ate traced.
(4) Improve mental action: by analyzing the variances properly the efforts are made to eliminate them which are responsible for these variances.
Objective of standard costing
For adopting the standard costing following are main objrcts:
(i) to establish the control on all elements of cost effecting the production.
(ii) To make the efforts to increase the efficiency and productivities of all factors of production.
(iii) To record the data of increase or decrease of production sales and profits.
(iv) To provide the information to managers regarding the variances and their causes.
(v) to make the sound effort of awaking the initiative among the employees.
(vi)
To make the control self- effective.
(vii) To develop the mental sight of allevels of management for seeing the future events.
Advantage of standard Costing
(1) Control on costs: the comparison of standard cost with actual cost under standard costing is continuously carried in by which the cases of increasing cists are traced unneduateky and by the amendment the proper control of cost can be maintained.
(2) Economy: in comparison of other cost control methods this method is more economic and provides more information.
(3) Use of full production capacity: by this method the complete information of different production capacity.
(4) The best use of material: under this method the use of material and the effects of changes in it can by known by which the best use of material can be possible.
(5) Knowledge of the efficiency of labors: by this method the efficiency of labor can also be obtained easily by which the determination of wares became convenient.
(6) Helpful in planning the management get help in making the future planning by it because by the extensive study of pre – determine standards and actual performance the future pre-estimates become easy.
(7) Production and price policies: by adopting the standard costing the detailed cost accounting is not necessary; on this base the manager can prepare the policies of ideal production and price policies.
Classification of Cost variances
Cost variance
Material cost cost
labour cost
overhead
Material price material usage fixed overhead Variance variance variance variance
variable overhead
Material mix material sub –usage fixed overhead Variance cost variance variance
Labour rate expenditure Variance variance
labour efficiency valume variance variance
Idle time labour mix labour yield efficiency capacity Variance variance variance variance variance
Revised
calendar Capacity varance
Varance
Project Report
(2012-2013)
SUBMITED FOR
BACHLOR OF COMMERCE & COMPUTER APPLICATION
[BCOM(CA) vi Sem )
MAJOR PROJECT 2013
APSU, REWA (M.P.)
SUBMITED BY GUIDED BY
Mr. ABHIJEET PANDEY Mr. DHRENDRA GARG
(Mr. PARAS SEN)
VANIJYA MAHAVIDYALAYA, SATNA (M.P.)
CERTIFICATE
This is to certify that Mr.ABHIJEET PANDEY & Mr.DHRENDRA GARG has completed his Major Project work for during the academic year 2013 in the partial fulfillment of the award of BCOM.(CA) VI SEMESTER.
Internal Examiner
(Mr. VINAY SHRIVASTAVA)
External Examiner
VANIJYA MAHAVIDYALAYA, SATNA (M.P.)
CERTIFICATE
This is to certify that Mr.ABHIJEET PANDEY & Mr.DHRENDRA GARG has completed his Major Project work
2013 BCOM.(CA) VI
SEMESTER.
Project Guide (Mr.Paras sen)
Principle (Mr. RIYAZUDDIN KHAN)
VANIJYA MAHAVIDYALAYA, SATNA (M.P.)
Self certificate I hereby declared that the all project works entitled
Has been successfully completed by Us
In partial fulfillment for
BACHLOROFCOMMERCE&COMPUTERAPPLIC B.COM(CA)VI Sem .
Awarded By
APSU ,REWA (M.P.)
During the academic session 2013 under guidance of Mr. PARAS SEN This project has not been submitted for the award of any examination.
Candidate
Mr.ABHIJEET PANDEY Mr.DHRENDRA GARG
ACKNOWLEDGEMENT
we wish to acknowledgement with deep gratitude the valuable assistance received by us form our guide Mr.PARAS KUMAR SEN. Who guided and encouraged us throughout the development of this project. We would like to very many thanks Mr. VINAY SHRIVASTAVA for his valuable suggestion. It is due to encouragement provided by him that projects could its final stage.
We also acknowledge our to Mr. Mo. RIYAZUDDIN KHAN(Principal) other lecturer’s friends. Who us in the satisfactory completion of this project
We also acknowledge our to Mr. ASHOK MISHRA (Director) other lecturer’s friends. Who us in the satisfactory completion of this project. Finally we specially thanks our parents and the near dear once who are the another of our lives for their support and understanding.
Mr.ABHIJEET PANDEY Mr.DHRENDRA GARG
DECLARATION
We hereby affirm that the project report titled “ LIBRARY MANAGEMENT ”submitted by us to Vanijya mahavidyaya, satna(M.P.),for consideration of BACHLOR OF COMMERCE &COMPUTER APPLICATION(B.COM(CA)) embodies our work,except the and suggestions received during the work which has been duly acknowledged.
Mr.ABHIJEET PANDEY Mr.DHRENDRA GARG
AWDESH PRATAP SINGH UNIVERSITY REWA (M.P.)
PROJECT WORK EVALUATION 1. Candidates Roll No…………………………………………………………….. 2. name…………………………………………………………………………….. 3. Project Title………………………………………………………………………. 4. Software Base…………………………………………………………………… 5. Sponsoring Institute Address…………………………………………………… 6. Submitted for course & Year……………………………………………………; 7. Study Center Code, name, Address………………………………………………. 8. Total Internal assessment and exam work evaluation………………………….. Particular Mark out of Marks awarded Internal Examiner’s Name Signature
8. .Forwarding by Head of Study Center…………………………………………… (Signature Name and study counterseal)……………………………………………. 9 Remarks of study center…………….………………………………….................. 10-University project Examiner’s Evaluation Total marks awarded……………………………………… Details of evaluation along with name and sing of university Examiner. Roll no Enrollment no Marks Awarded Internal Examiner’s Name & Signature
11. Remarks of University Examiner……………………………………………………
CONTENTS
1. 2. Preface Package used : ………..Visual Basic 6.0(VB) ………..MS Access 2003 3. 4. 5. 6. 7. 8. 9. 10. Layout 11. How to use the system 12. Limitation 13. Conclusion 14. Bibliography Introduction Problem Study H/W & S/W requirements About The System Development Life Cycle Data Flow diagram of the project E-R Diagram of the project Structure of database
