48 CFR 9904.407-20 - Purpose.
(a) The purpose of this Cost Accounting Standard is to provide criteria under which standard costs may be used for estimating, accumulating, and reporting costs of direct material and direct labor; and to provide criteria relating to the establishment of standards, accumulation of standard costs, and accumulation and disposition of variances from standard costs. Consistent application of these criteria where standard costs are in use will improve cost measurement and cost assignment.
(b) This Cost Accounting Standard is not intended to cover the use of pre-established measures solely for estimating.
Title 48 published on 2015-12-04.
No entries appear in the Federal Register after this date, for 48 CFR Part 9904.