production cost — total cost of production The total of all the costs incurred in producing a product or cost unit. In a manufacturing account the production cost is represented by the total of the prime costs and the manufacturing overhead. See: cost of goods… … Accounting dictionary
production cost — total cost of production The total of all the costs incurred in producing a product or cost unit In a manufacturing account the production cost is represented by the total of the direct costs and the manufacturing overhead See cost of goods… … Big dictionary of business and management
production cost variance — In standard costing, the variance arising when the standard cost of the actual production is compared with the actual cost incurred. If the standard cost is higher than the actual cost a favourable variance arises, while if the actual cost… … Accounting dictionary
production cost variance — In standard costing, the variance arising when the standard cost of the actual production is compared with the actual cost incurred. If the standard cost is higher than the actual cost a favourable variance arises, while if the actual cost… … Big dictionary of business and management
Production Cost — A cost incurred by a business when manufacturing a good or producing a service. Production costs combine raw material and labor. To figure out the cost of production per unit, the cost of production is divided by the number of units produced. A… … Investment dictionary
production cost — noun combined costs of raw material and labor incurred in producing goods • Hypernyms: ↑cost * * * noun : the combined total of raw material and direct labor costs and burden incurred in production … Useful english dictionary
production cost — /prə dʌkʃən kɒst/ noun the cost of making a product … Marketing dictionary in english
production cost — /prə dʌkʃən kɒst/ noun the cost of making a product … Dictionary of banking and finance
production cost centre — An area of an organization, such as a function, department, section, individual, or any group of these, in which production is carried out. See also: cost centre … Accounting dictionary
production cost centre — An area of an organization, such as a function, department, section, individual, or any group of these, in which production is carried out. See also cost centre … Big dictionary of business and management
production cost advantage — A source of competitive advantage that depends on producing some product or service at the lowest cost. Bloomberg Financial Dictionary … Financial and business terms
