STANDARD COSTING - A costing method that attaches costs to cost objects based on reasonable estimates or cost studies and by means of budgeted rates rather than according to actual costs incurred.
( ( ( ( STANDARD COSTING ) - ) ( ( A ( costing method ) ) ( that ( ( attaches ( costs ( ( ( to ( ( cost objects ) ( based ( ( ( on ( reasonable ( estimates ( or ( cost studies ) ) ) ) ) and ) ( by ( means ( of ( budgeted rates ) ) ) ) ) ) ) ) ( rather than ) ) according ) ) ) ( to ( ( actual costs ) incurred ) ) ) ) ) ) . )
(ROOT (NP (NP (NNP STANDARD) (NNP COSTING)) (: -) (NP (NP (DT A) (JJ costing) (NN method)) (SBAR (WHNP (WDT that)) (S (VP (VBZ attaches) (NP (NP (NNS costs)) (PP (PP (TO to) (NP (NP (NN cost) (NNS objects)) (VP (VBN based) (PP (PP (IN on) (NP (JJ reasonable) (NNS estimates) (CC or) (NN cost) (NNS studies))) (CC and) (PP (IN by) (NP (NP (NNS means)) (PP (IN of) (NP (VBN budgeted) (NNS rates))))))))) (CONJP (RB rather) (IN than)) (PP (VBG according)))) (PP (TO to) (NP (NP (JJ actual) (NNS costs)) (VP (VBN incurred)))))))) (. .)))
Standard Costing was applied to the ledger.
( ( Standard Costing ) ( ( was ( applied ( to ( the ledger ) ) ) ) . ) )
(ROOT (S (NP (NNP Standard) (NNP Costing)) (VP (VBD was) (VP (VBN applied) (PP (TO to) (NP (DT the) (NN ledger))))) (. .)))