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If a mercury thermometer broke, what would you do to clean it up?
Budgeted Cost Systems
Accounting methods that use budgets to project costs and revenues, helping companies plan for future operations and financial performance.
Product Costs
The three components of manufacturing cost: direct materials, direct labor, and factory overhead costs.
Standard Cost
A detailed estimate of what a product should cost.
Past Cost Data
Historical financial information regarding the costs incurred by a business.
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