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Cost accounting allows you to categorize and analyze your expenses. Accurately determine the cost of each product or service unit while calculating the price per unit. Budgets are created, along with "Standard Costs of Operations and Products and Actual Cost Analysis, as well as Variances, Processes and Profitability of Funds." Cost accounting is a method of gathering, describing, summarizing, and translating data for planning, controlling, and making decisions.
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