Examlex
Cost control relates to all organizational costs and emphasizes activities in all organizational areas.
Absorption Costing
A costing approach that encompasses all costs associated with production, including direct materials, direct labor, and all overhead costs, both variable and fixed, in the unit cost of a product.
Ending Inventory
The total value of all unsold goods a company has at the end of an accounting period.
Gross Margin
The difference between sales revenue and the cost of goods sold, indicating the basic profitability of the products or services sold.
Absorption Costing
An accounting method that includes all manufacturing costs (direct materials, direct labor, and both variable and fixed overhead) in the price of a product.
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