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A bus breaks down outside a small bank causing a big crowd.Passing bank customers think the crowd is caused by a queue of depositors withdrawing their money and so take their money out and warn their friends.You are also a depositor at the bank but realize that the run on the bank has been caused by a misconception.Your rational response is to
High-low Method
An approach in cost accounting to determine variable and fixed charges, based on analyzing the activity's minimum and maximum levels.
Job-Order Costing
A costing system used in situations where many different products, jobs, or services are produced each period.
Process Costing
A costing method used when essentially homogeneous products are produced on a continuous basis.
Cost Reconciliation Report
A financial report that reconciles the estimated, budgeted, or standard costs with the actual costs incurred.
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