Standard Price in Financial Formulas

Standard Price refers to the predetermined cost per unit of a particular material based on factors such as historical data, market prices, negotiated contracts, or internal cost estimates. And is denoted by STP.

Financial formulas that make use of Standard Price

fxMaterial Cost VarianceGo

fxMaterial Price VarianceGo

fxMaterial QuantityGo

fxMaterial Usage VarianceGo

FAQ

What is the Standard Price?

Standard Price refers to the predetermined cost per unit of a particular material based on factors such as historical data, market prices, negotiated contracts, or internal cost estimates.

Can the Standard Price be negative?

{YesorNo}, the Standard Price, measured in {OutputVariableMeasurementName} {CanorCannot} be negative.

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