Post on 14-Apr-2018
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A Project Report on
STANDARD COSTING SYSTEM AND VARIANCE
ANALYSIS
Masters of Commerce
(Accountancy)
Semester I
Submitted
In partial Fulfillment of the requirements
For the Award of Degree of
Masters of Commerce (Accountancy)By
NOORAL ALFA BASHIR AHMED
_____________________________________________________________
VIVEK COLLEGE OF COMMERCEVIVEK COLLEGE ROAD, SIDDHARTH NAGAR
GOREGAON (W), MUMBAI-400 062.
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VIVEK COLLEGE OF COMMERCE
VIVEK COLLEGE ROAD, SIDDHARTH NAGAR
GOREGAON (W), MUMBAI-400 062.
CERTIFICATE
This is to certify that NOORAL ALFA BASHIR AHMED of
M.com.
Accountancy Semester I (2012-2013) have
Successfully completed the project on
STANDARD COSTING SYSTEM AND VARIANCE
ANALYSIS under the
Guidance of Prof:
_______________ _______________
Internal Guide External Guide
_____________ ____________
Co-ordinator Principal
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DECLARATION
I NOORAL ALFA BASHIR AHMED the student of M. Com.
Accountancy Semester I (2012-2013) hereby
Declare that I have completed the projects on
STANDARD COSTING SYSTEM AND VARIANCE
ANALYSIS
The information submitted is true and original to the
best of my Knowledge
________________
NOORAL ALFA
Date:-
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Acknowledgement
To list who all have helped me in difficult because they are so
numerous and the department is so enormous.
I would like to acknowledge the following as being idealistic channels
and fresh dimension in completion of this project.
I take this opportunity to thank the UNIVERSITY OF MUMBAI for
giving me a chance to do this project.
I would like to thank my principal Smt. Nandita Roy for providing the
necessary facilities for the completion of this project.
I take this opportunity to thank our coordinatorProf. Pradip Hathi for
his moral support and guidance.
I would also like to express my sincere gratitude towards my project
guide Prof. Pradip Hathi whose guidance and care made this project
successful.
I would like to thank my college library for having provided various
reference books and magazines related to my project.
Lastly I would like to thank each and every person who directly or
indirectly helped me with the completion of the project especially my
parents and peers who supported me throughout the project.
NOORAL ALFA
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INDEX
SR.NO TOPIC PAGE NO.
1. INTRODUCTION STANDARD COSTING 1-3
2. MATERIAL STANDARDS 4
3. LABOUR STANDARD 5-9
4. OVERHEAD STANDARDS AND VARIANCE
ANALYSIS
10-14
5. CASE STUDY OF HARDEN COMPANY STRAYER
COMPANY
15-16
6. CASE ANALYSIS OF PARKSIDE PRODUCTS 17-23
7. NEED OF STANDARD COSTING 24-29
8. SUMMARISED FORMULAS FOR S TANDARD COSTING 30
9. ADVANTAGES OF STANDARD COSTING 31-32
10. LIMITATION OF STANDARD COSTING 33
11. SUMMARY 34
12. BIBILOGRAPHY 35