Examlex
According to the concept of mutual regulation,
Standard Costing System
A cost accounting method that assigns expected costs to products, services, or cost units, used for budgeting and performance evaluation.
Direct Labour Hours
The total hours worked by employees who are directly involved in the production process, often used as a basis for allocating labor costs to products.
Activity-Based Costing
An accounting method that assigns costs to products or services based on the activities they require, for more accurate product costing.
Activity Costs
Expenses associated with specific activities within a manufacturing or service delivery process, including labor, materials, and overhead.
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