Define Costes. Costes synonyms, Costes pronunciation, Costes translation, English dictionary definition of Costes. n. 1. An amount paid or required in payment for a purchase; a price. 2. The expenditure of something, such as time or labor, necessary for
Every aspect of their firm must be fully understood by any ambitious business owner. This requires keeping track of your income, expenses, sales, and production. Along with that, the ultimate objective of any business is profitability. And as a result, the cost of goods made (COGM) is an ...
Definition:TheBusiness Costincludes all the costs (fixed, variable, direct, indirect) incurred in carrying out the operations of the business. It is similar to the real or actual costs that include all the payments and contractual obligations along with the book cost of depreciation on both the ...
Thecostof doing business in this area is high. We need bettercostcontrol. The company needs to do somecost cutting. [=needs to find ways to save money] —usually plural production/manufacturing/operatingcosts By keepingcostsdown, the company will make larger profits from its products. ...
2.2.1Definitionofopportunitycosts2.2.2Explicitandimplicitcosts2.2.3Differencebetweeneconomistsandaccountants2.2CostsasopportunitycostsTheopportunitycostofanitemreferstoallthosethingsthatmustbeforgonetoacquirethatitem.Wheneconomistsspeakofafirm’scostofproduction,theyincludealltheopportunitycostsofmakingitsoutputofgoodsand...
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson cost of goods sold or cost of sales the relevant cost that is compared with sales revenue in order to determineGROSS PROFITin thePROFIT-AND-LOSS ACCOUNT. Where...
all variable and fixed costsassociated with its production processes. Once all input costs are measured and recorded individually, a company can compare all of these costs to its output results. This is one way for a company to measure its financial performance and make future business decisions....
Alternatively, if the business purchases a new machine, it will be able to increase its production. Knowing that the machine setup and employee training will be intensive, and the new machine will not be up to maximum efficiency for the first couple of years, the company estimates that it wo...
The difference between marginal cost and average cost lies in their calculations and what they represent. Marginal cost refers to the additional cost to produce one more unit of a product. Average cost is the total cost of production divided by the quantity produced, giving an average unit cost...
Cost of sales combines all the costs associated with selling goods, from production through to retail. What’s included in cost of sales? What is and what is not included in your cost of sales calculation will largely depend on your business, the industry you’re in, and the types of pro...