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5 Cards in this Set

  • Front
  • Back
Continuous improvement
Not good enough or acceptable, challenges employees and managers to continuously experiment with new and improve business practices.
Control
The process of monitoring planning decisions and evaluation of actions, processes, and outcomes.
Controllable or not controllable cost
Depends on the employee's responsibility in hierarchical levels
Conversion costs
Direct labor costs and overhead costs
Cost object
A product, process, department, or customer to which costs are assigned