Cost is a quantity that has to be remunerated or specified up in order to obtain something.In business, cost is typically a financial assessment of attempt, material, possessions, time and utilities obsessive, risks acquired, and opportunity decline in manufacture and delivery of a good or service.

Standard Cost

Standard cost means what the cost should be. Standard cost is predetermined cost of a unit of product, or an operation or a department or a process. Standard cost is the cost target to be achieved. Such cost targets are scientifically determined after consultation with