Def - Cost Rate - Standard

The Standard Cost Rate refers to the 'Rate' applied to the Inventory for determining the extended 'Standard Cost'. For a single Lot, it is the 'Rate' that is multiplied by the quantity to compute the 'Standard Cost' value of the Lot. For multiple Items and/or Lots it is the calculated value from dividing the sum of the extended 'Standard Costs' by the sum of the quantity.