Mini Bio (1) George Timothy Clooney was born on May 6, 1961, in Lexington, Kentucky, to Nina Bruce (nÃ©e Warren), a former beauty pageant queen, and Nick Clooney, a former anchorman and game show host (who was also the brother of singer Rosemary Clooney). He has Irish, English, and German ancestry.
In effect, target costing is a proactive cost planning, cost management, and cost reduction practice whereby costs are planned and managed out of a product and business early in the design and development cycle, rather than during the later stages of product development and production.
Standard costing is the practice of substituting an expected cost for an actual cost in the accounting records, and then periodically recording variances showing the difference between the expected and actual costs. variance is the difference between the actual cost incurred and the standard cost against which it is measured. A variance can also be used to measure the difference between actual and expected sales.