homage. n. 1. a public show of respect or honour towards someone or something (esp in the phrases pay or do homage to). 2. (Historical Terms) (in feudal society). a. the act of respect and allegiance made by a vassal to his lord. See also fealty.
Cost management is the process of planning and controlling the budget of a business.
The preparation of planning cost calculations on the basis of progressive norms is an essential condition for establishing sound wholesale prices in industry and other sectors of the national economy. Calculations of the prime cost of agricultural products are used to plan state purchase prices.