CONTROLLABILITY, COST Definition

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CONTROLLABILITY, COST is the financial policy of controlling, limiting or curbing the cost of materials, labor, and overhead.

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DIRECT LABOR RATE VARIANCE reveals the difference between the standard rate and actual rate for the actual labor hours worked [(standard rate - actual rate) X actual hours].

WRITE-UP is the increase in value of an asset, but it is seldom used and is not allowed in GAAP (Generally Accepted Accounting Principles).

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