Enter the standard rate ($/unit) and the standard quantity (units) into the Calculator. The calculator will evaluate the Standard Cost. 

Standard Cost Formula

STC = SR * SQ

Variables:

  • STC is the Standard Cost ($)
  • SR is the standard rate ($/unit)
  • SQ is the standard quantity (units)

To calculate the Standard Cost, multiply the standard rate by the standard quantity.

How to Calculate Standard Cost?

The following steps outline how to calculate the Standard Cost.

  1. First, determine the standard rate ($/unit). 
  2. Next, determine the standard quantity (units). 
  3. Next, gather the formula from above = STC = SR * SQ.
  4. Finally, calculate the Standard Cost.
  5. After inserting the variables and calculating the result, check your answer with the calculator above.

Example Problem : 

Use the following variables as an example problem to test your knowledge.

standard rate ($/unit) = 500

standard quantity (units) = 20