ACTUAL COST Definition

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ACTUAL COST is the amount paid for an asset; not its retail value, market value or insurance value.

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APPLICATION RATE is the quantity (mass, volume or thickness) of material applied per unit area.

CONTROLLABLE EXPENSE expenses that can be controlled or restrained by management. Some of the costs of doing business can be postponed or spread out over a longer period of time (e.g., personnel costs, travel & entertainment, marketing expense).

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