Cost control quizlet

  • How can you control expenses?

    “Cost control is clearly an effective strategy for growth and is now arguably essential in a company's growth strategy,” believes our Finance Head, Nagesh Shet..

  • How do we do cost control?

    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 is the cost control process?

    Cost control is the process of measuring cost variances from the baseline and taking appropriate action, such as increasing the budget allocated or reducing the scope of work, to correct that gap.
    Cost control is a continuous process done throughout the project lifecycle..

  • Definition of cost. the monetary value of resources used or consumed in the production of a good/service.
Rating 4.0 (1) Q-Chatas-purchased method. used to cost an ingredient at the purchase price before any trim or waste is taken into accountaverage check methodaverage 
Rating 4.0 (1) Study with Quizlet and memorize flashcards containing terms like as-purchased method, average check method, average sales per customer and more.

What are the costs and benefits of organizational controls?

Let’s look at some of the predominant costs and benefits of organizational controls, which are summarized in the following figure.
Controls can cost the organization in several areas, including:

  • (1) financial
  • (2) damage to culture and reputation
  • (3) decreased responsiveness
  • and (4) botched implementation.
    • ,

    What is an example of a control cost?

    Controls can cost the organization in several areas, including:

  • (1) financial
  • (2) damage to culture and reputation
  • (3) decreased responsiveness
  • and (4) botched implementation.
    An example of financial cost is the fact that organizations are often required to perform and report the results of a financial audit.
    • ,

    What is the first step in cost control?

    First step in cost control is to prepare the project budget costs.
    Accordingly, we have two types of costs:

  • Direct costs:
  • it is the cost of materials
  • taboos
  • Equipment
  • subcontractors or any other Costs that can be loaded to a certain activity.
    Indirect costs:i it is the cost of supervision salaries, site offices, money paid to issue l.

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