Question

Difference between cost control and cost reduction

Answer 1

Answer:

cost control is a technique which provides the necessary information to the management that actual costs are aligned with the budgeted costs or not... While cost control,regulates the action to keep the cost elements within the set limits,cost reduction refers to the actual parmanent reduction in the unitt cost

Answer 2

Answer:

Cost Control is a technique which provides the necessary information to the management that actual costs are aligned with the budgeted costs or not. ... While cost control, regulates the action to keep the cost elements within the set limits, cost reduction refers to the actual permanent reduction in the unit cost.