- predetermined cost
- noun
: a cost estimated or computed in advance of production to which it applies — see standard cost; compare actual cost, historical cost
Useful english dictionary. 2012.
predetermined cost
Look at other dictionaries:
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standard cost — noun : a predetermined cost based on cost factors assumed to be normal with which a correlated historical cost is compared compare actual cost * * * a predetermined cost of material, labor, etc., based on specifications prepared from time and… … Useful english dictionary
historical cost — noun 1. : a cost computed after production from records made concurrently with various steps of production contrasted with predetermined cost and standard cost 2. : the value at which a capital asset is recorded on the books representing the… … Useful english dictionary
standard cost — a predetermined cost of material, labor, etc., based on specifications prepared from time and motion studies, accounting records, and the like. Cf. actual cost. [1930 35] * * * … Universalium
standard cost — In standard costing systems, a predetermined unit cost of a product or service. It is important to emphasize that standard cost is a unit cost concept … Accounting dictionary
