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The Mughal rule of Akbar in India
Standard Quantity
The expected or established quantity of materials or labor expected to be used during a manufacturing process or production cycle.
Standard Price
Standard price is the pre-determined cost that a company expects to pay for goods, materials, or services, used in budgeting and cost control.
Actual Output
Actual output is the real quantity of goods or services produced by a company or economy, as opposed to planned or theoretical outputs.
Standard Costing
A cost accounting method that assigns fixed overhead costs to goods produced based on standard cost rates, helping to analyze variances between expected and actual costs.
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