Research on Standards Cost in Animal Feed Processing Enterprises in Vietnam

The study has synthesized theories on building production standards cost in manufacturing enterprises. Standards cost are one of the tools to control costs. Production standards cost include direct material standards cost, direct labor standards cost, and general production standards cost. Standards are a measure of determining costs for a unit of product. The results of cost implementation will be compared with estimates to determine cost fluctuations, so standards cost is the key to cost control and the basis for organizing responsibility accounting. Standards cost is one of the measures to evaluate the performance of responsibility centers, especially cost centers. The study was conducted on 52 animal feed processing enterprises and the study conducted an in-depth survey of Rural Technology Development Joint Stock Company to assess the current situation of building production standards cost at animal feed processing enterprises. in Viet Nam. The study has provided complete solutions for building standards cost to serve cost control and evaluation of business performance.