standard purchase price

standard purchase price
A predetermined price set for each commodity of direct material for a specified period. These prices are compared with the actual prices paid during the period in order to establish direct materials price variances in a system of standard costing

Big dictionary of business and management. 2014.

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  • standard purchase price — A predetermined price set for each commodity of direct material for a specified period. These prices are compared with the actual prices paid during the period in order to establish direct materials price variances in a system of standard costing …   Accounting dictionary

  • purchase price variance — noun The difference in price between the amount paid to the supplier and the planned or standard cost of that item. Syn: PPV …   Wiktionary

  • standard price — See: standard purchase price, standard selling price …   Accounting dictionary

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  • direct materials price variance — In a standard costing system, a variance arising as part of the direct materials total cost variance. There are two alternative points at which the materials price variance may be established: when the material is purchased or when it is issued… …   Accounting dictionary

  • price — I noun amount, appraisal, appraisement, charge, compensation, cost, disbursement, due, estimate, estimation, exaction, exchange value, expenditure, expense, fare, fee, figure, outlay, payment, premium, pretium, purchase money, quotation, rate,… …   Law dictionary

  • Standard Oil — Infobox Company company name = Standard Oil company company type = Ohio Corporation (1870 1882), Business Trust (1882 1892), New Jersey Holding Company (1899 1911) [cite web |url=http://www.bgsu.edu/departments/acs/1890s/rockefeller/bio2.htm… …   Wikipedia

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  • Hire purchase — (abbreviated HP) is the legal term for a contract, in this persons usually agree to pay for goods in parts or a percentage at a time. It was developed in the United Kingdom and can now be found in China, Japan, Malaysia, India, South Africa,… …   Wikipedia

  • Christmas Price Index — True Cost of Christmas, 1984 2009 Christmas Price Index ( …   Wikipedia

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