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A cost centre is a location, person, or item of equipment for which costs can be accumulated and used for cost control purposes. A cost unit is the unit of output in relation to which the costs of a cost centre are expressed. The key objectives of introducing a cost accounting system in a manufacturing organization include determining unit costs accurately, fixing selling prices, controlling costs, facilitating cost control and cost reduction, assisting management in decision-making, and providing informa

Author
caamitthapa
Language
EN