- actual cost
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the cost of a product based on incurred costs of material and labor required in its production. Cf. standard cost.
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Universalium. 2010.
actual cost
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actual cost — noun : cost based on the most factual allocation of historical cost factors compare estimated cost, standard cost * * * the cost of a product based on incurred costs of material and labor required in its production. Cf. standard cost … Useful english dictionary
actual cost — The actual expenditure incurred in carrying out any of the activities of an organization, especially as compared with the budgeted or standard cost … Accounting dictionary
actual cost — The actual price paid for goods by a party, in the case of a real bona fide purchase, which may not necessarily be the market value of the goods. It is a general or descriptive term which may have varying meanings according to the circumstances… … Black's law dictionary
actual cost — The actual price paid for goods by a party, in the case of a real bona fide purchase, which may not necessarily be the market value of the goods. It is a general or descriptive term which may have varying meanings according to the circumstances… … Black's law dictionary
cost of completion — n. In a breach of contract action, a measure of damages calculated by the amount it would cost to pay for a performance that would put the plaintiff where he or she would have been had the contract not been breached. The Essential Law Dictionary … Law dictionary
actual — Ⅰ. actual UK US /ˈæktʃuəl/ adjective [only before noun] ► true or exact: actual amount/cost/figure »Residents are paying electricity prices that are double the actual cost of generating electricity. »There is a gap between desired and actual… … Financial and business terms
cost — n 1: the amount or equivalent paid or charged for something 2 pl: expenses incurred in litigation; esp: those given by the law or the court to the prevailing party against the losing party Merriam Webster’s Dictionary of Law. Merriam Webster.… … Law dictionary
Cost basis reporting — is a term used in the financial services industry that refers to identifying the actual cost of a security for income tax purposes. Cost basis reporting became mandatory on January 1, 2011. The Emergency Economic Stabilization Act of 2008 –… … Wikipedia
cost-plus — ˌcost ˈplus adjective COMMERCE MANUFACTURING cost plus product/price/basis etc if something is made or done on a cost plus basis, it is made or done at an agreed price plus an extra amount. This is done when the cost of making a product etc is… … Financial and business terms
Actual — Ac tu*al (#; 135), a. [OE. actuel, F. actuel, L. actualis, fr. agere to do, act.] 1. Involving or comprising action; active. [Obs.] [1913 Webster] Her walking and other actual performances. Shak. [1913 Webster] Let your holy and pious intention… … The Collaborative International Dictionary of English
