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Business Definition for: actual cost

actual cost

expenditure required to buy or produce an item. The actual cost of a purchased item includes the list price (net of discounts) plus delivery and storage. The actual cost to manufacture a product is the total of direct material, direct labor, and factory overhead.

Dictionary of Business Terms

actual cost

amount paid for an asset; not its market value, insurable value, or retail value. It generally includes freight-in and installation costs, but not interest on the debt to acquire it.

Copyright © 2005, 2000, 1995, 1987 by Barron's Educational Series, Inc., Reprinted by arrangement with Publisher.
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.

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