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What are the difference between the normal ,standard, actual costs?

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Question added by Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate , Regional Receivable Accountant , Amiantit Group of Companies
Date Posted: 2017/03/09
Soliman Abd  ALmalak Gendy
by Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

Nornal costing is used to value manufactured products with the actual materials costs,the actual direct labour costs, and manufacturing overhead based on a predetermined manufacturing overhead rate. _Standard costing values its manufacturing products with a predetermined materials costs, a predetermined direct labour cost, and a predetermined manufacturing overhead cost _These standard costs will be used for valuing the manufacturer,'s cost of goods sold and inventories

Ismail  Abdelaziz Mohamed Badawi
by Ismail Abdelaziz Mohamed Badawi , مدير حسابات , مجمع الميدان الأزرق الطبي

thanks for the invitation

I agree with the previous answer

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