The actual cost is the money spent to buy an item. The actual cost for an item differs from place...
type of cost
Budgeted cost is important not to businesses alone, but also to individuals. It helps give an estimate of what an...
Standard cost is a term used in standard costing, a branch of costing. It is compared with actual costs. And...
The predetermined Cost is already decided on. In most cases, they are mere estimates and will be used to compare...
The cost of a product or service isn't all about the cost of buying materials and all expenses made to...
Committed costs are a type of cost in cost accounting. The word committed means such costs are budgeted on a...
Pre production cost is any cost incurred before actual production takes effect. This term should not be confused with preliminary...
Big companies don't joke with research and development. R&D costs are an important expense covering an average of 3.5 percent...
Discretionary or policy costs are special kinds of expenses or expenditures. It is also one that can be avoided in...
Future costs are those costs expected to be incurred in another accounting period. These costs are usually determined by management...