Cost of goods sold is the accumulated total of all costs used to create a product or service, which has been sold.

It is concerned with actual costs incurred and the estimation of future costs. Definition: Cost leadership is a term used when a company projects itself as the cheapest manufacturer or provider of a particular product or commodity in a competition.It is difficult to deploy the strategy because the management must constantly work on reducing cost at every level to remain competitive. Opportunity Cost Definition: The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land, labor, capital, etc.

Description: If the prices of goods and services do not include the cost of negative externalities or the cost of harmful effects they have on the environment, people might misuse them and use them in large quantities without thinking about their ill effects on the env

Cost-based transfer pricing is a method of setting prices when goods are sold to divisions within the same company. Several factors affect the price, including production costs, managers' reviews, international taxation and competitors' pricing. Cost Accounting primarily deals with collection, analysis of relevant cost data for interpretation and presentation for various problems of management. There are different methods of selecting the cost … Introduction to Design for (Cost Effective) Assembly and Manufacturing Source: David Stienstra (Rose-Hulman) Purpose Statement To provide an overview of Design for Manufacturing and Assembly (DFMA) techniques, which are used to minimize product cost through design and process improvements. Yield On Cost - YOC: Yield on Cost (YOC) is the annual dividend rate of a security, divided by its average cost basis . Definition of cost control: The process or activity on controlling costs associated with an activity, process, or company. : True cost economics is an economic model that includes the cost of negative externalities associated with goods and services.

Cost Accountancy: Cost Accounting accounts for the costs of a product, a service or an operation. In other words, the opportunity cost is the opportunity lost due to limited resources.

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