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How does the Management by Exception principle affect the Management Reporting System?
Job Order Cost System
An accounting method that accumulates costs for each individual job or project, tracking materials, labor, and overhead.
Uniform Products
Products that are identical in quality and performance, manufactured to meet a standard specification.
Cost Accounting
An area of accounting that involves measuring, recording, and reporting product costs.
Product Costs
Costs that are directly tied to the production of goods or services, including raw materials and labor.
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