Example. Each cost is recorded in a different expense account depending on its purpose and cost driver. For example, the cost recorded to purchase inventory is booked in the cost of goods sold account when inventory is sold. These expenses are presented in a section of the income statement separate from the operating expenses.
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If you cost or cost out a product or process, you estimate what it is going to cost, for the purposes of pricing or budgeting. If we want to fully cost a particular …
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Opportunity cost definition: the money or other benefits lost when pursuing a particular course of action instead of a mutually-exclusive alternative. See examples of OPPORTUNITY COST used in a sentence.
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2 meanings: 1. business the costs involved in producing goods or services 2. law the expenses of judicial proceedings.... Click for more definitions.
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The meaning of COST is the amount or equivalent paid or charged for something : price. How to use cost in a sentence. the amount or equivalent paid or charged for something : price; the outlay or expenditure (as of effort or sace) made to achieve an object…
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A discretionary cost is a or that can be curtailed or even eliminated in the short term without having an immediate impact on the short-term of a business. Management may reduce discretionary costs when there are difficulties, or when it wants to present enhanced short-term in the . However, a prolonged period of reduction in …
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Social costs. Diagram of cost curves. Absorbed costs = variable + fixed manufacturing overhead costs. Isocosts – a line showing all combinations of two factors that cost the same to employ. A list and definition of different types of economic costs - fixed, variable, total, marginal, sunk, accounting, opportunity cost. Diagrams and …
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All these reforms will cost money (= be expensive). Good food need not cost a fortune (= cost a lot of money). cost somebody something The meal cost us about £40. This is costing the taxpayer £10 billion a year. cost something to do something The hospital will cost an estimated £2 billion to build. It costs a fortune to fly first class.
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Differential cost is the difference between the cost of two alternative decisions, or of a change in output levels. The concept is used when there are multiple possible options to pursue, and a choice must be made to select one option and drop the others. The concept can be particularly useful in situations, where producing one …
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BEAR THE COST definition | Meaning, pronunciation, translations and examples
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Factor cost definition: (in social accounting) valuation of goods and services at their overall commercial cost, including markups but excluding indirect taxes and subsidies. See examples of FACTOR COST used in a sentence.
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the added cost of using resources (as for production or speculative investment) that is the difference between the actual value resulting from… See the full definition Menu Toggle
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AT COST definition: 1. for only the amount of money needed to produce or obtain goods or services, without any extra…. Learn more.
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COSTS meaning: 1. the amount of money needed for a business or to do a particular job: 2. the amount of money…. Learn more.
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cost | cost. if something costs a particular amount of money, you have to pay that amount in order to buy or have it: cost $1 million/£500,000, etc. Calls cost 60 cents per minute. …
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COST meaning: 1. the amount of money that you need to buy or do something: 2. something that you give or lose…. Learn more.
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noun. 4. a. the amount of money, etc. asked or paid for a thing; price. b. the amount spent in producing or manufacturing a commodity. c. the amount paid for something by a dealer, contractor, etc.: a markup is usually added to arrive at a selling price. stoves sold at cost in a sale.
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From Longman Business Dictionary cost1 /kɒstkɒːst/ noun 1 [ countable, uncountable] the amount of money that you have to pay in order to buy, do, or produce something The distributor bears the full cost of promoting a film. Siemens is moving production to low cost sites in Portugal and Mexico. The policy covers all major illnesses and ...
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For example, the phrase the total cost is $27 is the same as the total price is $27. You can also say, we couldn't afford the cost of a new car or the price of a new car. Price and cost as verbs. As verbs, cost and price do not function the same, however. If we say, "The toy costs $10," we can all understand this sentence.
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cost noun (MONEY) Add to word list. Add to word list. A2. the amount of money that you need to buy or do something: The cruise ship was built at a cost of $400 million. …
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The meaning of COST is the amount or equivalent paid or charged for something : price. How to use cost in a sentence. the amount or equivalent paid or charged for something : price; the outlay or expenditure (as of effort or sace) made to achieve an object…
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COST-EFFECTIVE definition: 1. If an activity is cost-effective, it is good value for the amount of money paid: 2. If an…. Learn more.
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He worked non-stop for three months, at considerable cost to his health. I felt a need to please people, whatever the cost in time and energy. 4 costs (also court costs) [plural] the sum of money that someone is ordered to pay for lawyers, etc. in a legal case He was ordered to pay $2,000 costs. Thesaurus costs. spending; expenditure; expenses ...
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Cost definition: the price paid to acquire, produce, accomplish, or maintain anything. See examples of COST used in a sentence.
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cost | cost. if something costs a particular amount of money, you have to pay that amount in order to buy or have it: cost $1 million/£500,000, etc. Calls cost 60 cents per minute. …
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[countable, uncountable] the amount of money that you need in order to buy, make or do something cost of something the high/low cost of housing; at a cost of something A new computer system has been installed at a cost of £80 000.; You could buy a used car at a fraction of the cost of a new one.; We did not even make enough money to cover the …
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Cost definition: the price paid to acquire, produce, accomplish, or maintain anything. See examples of COST used in a sentence.
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