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

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VIVEK COLLEGE OF COMMERCE VIVEK COLLEGE ROAD, SIDDHARTH NAGAR

GOREGAON (W), MUMBAI-400 062.

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:

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_______________

Internal Guide

External Guide

_____________ Co-ordinator

____________ Principal

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:-

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 coordinator Prof. 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

INDEX
SR.NO 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. TOPIC INTRODUCTION STANDARD COSTING MATERIAL STANDARDS LABOUR STANDARD OVERHEAD STANDARDS AND VARIANCE ANALYSIS CASE STUDY OF HARDEN COMPANY STRAYER COMPANY CASE ANALYSIS OF PARKSIDE PRODUCTS NEED OF STANDARD COSTING SUMMARISED FORMULAS FOR S TANDARD COSTING ADVANTAGES OF STANDARD COSTING LIMITATION OF STANDARD COSTING SUMMARY BIBILOGRAPHY PAGE NO. 1-3 4 5-9 10-14 15-16 17-23 24-29 30 31-32 33 34 35