Recovery under standard costing

  • Creator
    Topic
  • November 19, 2017 at 10:10 pm #1664677
    deepti
    Participant

    Hello,

    I am new to this forum. I recently got a job in the food processing industry as cost Accountant.

    They follow standard costing. My question is what do you mean by recovery from products? How is it built into the products?
    I understand consumption. Consumption of direct materials, labor, overheads getting used to produce a product.But I am not understanding recovery.how do you get recovery from products?

    Regards,
    Deepti

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