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Enterprise glossary and term center
Research and understand all the intricate terms and definitions that surround the ecosystem of enterprise resource planning (ERP), enterprise software and no-code tools.
- Enterprise terms
- Actual Cost
- What is meant by standard cost?
Actual Cost - What is meant by standard cost?
Standard costs are estimates of the actual costs in a company's production process, because actual costs cannot be known in advance. This helps a business to plan a budget.
