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Autonomy and formalization are inversely related.
Material Cost
The total expense incurred to acquire materials used in the making of a product, including direct and indirect materials.
Job-order Costing
A costing method used to track costs specifically associated with a given job or project, allowing for detailed monitoring of expenses.
Predetermined Overhead Rate
A calculated rate used to charge overhead costs to products or job orders, determined by dividing estimated overhead costs by an allocation base.
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