Cost control pdf

  • What is cost control in PDF?

    In other words , it means to regulate/control the operating costs in a business firm.
    Features of Cost control Cost control process involves setting targets and standards, ascertaining the actual performance, comparing the actual performance with standard, investigating the variances and taking corrective action..

  • Explanation.
    TThis is a mechanism that helps the management in regulating the costs of a manufacturing unit.
    This involves the determination of necessary standards, ascertainment of actual results for comparing the same with the expected data,analyzing variances.

What are some cost control methods?

One method of cost control that most businesses use when starting a new project is budget management.
Setting aside enough time to develop an accurate budget for new projects is important because budgeting helps estimate costs, keep finances organized and ensure the cost variance is relatively low.


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