Standard costing is a predetermined or estimated cost of performing a service, operation or producing goods. Standard costing takes into account the volume and rate of items or services to calculate costs. For more information on standard costing click on the link below.
A Defect is any output from a service or a product that does not meet the customer required specifications, standards or requirements. A defect is not the same as defective. There may be more than one defect in a defective product or process. A Defect is also one of the 8 forms of waste or muda.
What defects have you experienced and how did you correct them? Share in the comment section below.
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