48 CFR 9904.407-40 - Fundamental requirement.
Standard costs may be used for estimating, accumulating, and reporting costs of direct material and direct labor only when all of the following criteria are met:
(a) Standard costs are entered into the books of account.
(c) Practices with respect to the setting and revising of standards, use of standard costs, and disposition of variances are stated in writing and are consistently followed.
Title 48 published on 2015-12-04.
No entries appear in the Federal Register after this date, for 48 CFR Part 9904.