Examlex
Fill in the correct labels for the following figure using the word bank below.
-H ____________
Controlling Costs
The process of planning, monitoring, and managing expenses to operate within a budget.
Degree Of Controllability
The extent to which the cost or performance outcome of a process or operation can be influenced or managed by the responsible party.
Standard Costing System
A cost accounting method that assigns fixed costs to products or services based on standard estimated costs.
Inventories
Assets held for sale in the ordinary course of business, or goods in the production process or materials to be consumed in the production process or in the rendering of services.
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