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 Method
When you use the actual cost method of determining your vehicle deduction, you must keep track of the actual amount of your costs during the year to calculate your deductible vehicle expenses.
ACTUAL COST - the amount paid for an asset; not its retail value, market value or insurance value.
ACTUAL DAMAGES - Real, substantial and just damages, or the amount awarded to a complainant in compensa...
Actual costing system: A costing system that determines costs by using actual prices and quantities of inputs.
actual cost system
a valuation method that uses actual direct
material, direct labor, and overhead charges in determining
the cost of work in process Inventory ...
The actual cost of direct materials, the actual cost of direct labor, and manufacturing overhead applied by using a predetermined annual overhead rate.
» For more clarity on this term: ...
Total Actual Costs
$44,500
How much should the 1,000 gallons of Weed-O have cost? Going back to the standard cost per unit, ($42), it is evident that the batch was over standard by $2500. This cost overage is considered an unfavorable variance.
Historical Cost
Actual costs or expenditures recorded as opposed to projected or forecasted costs.
produced based on labor hours or labor dollars; ii) standard costs, in which a cost including overheads is periodically determined for each type of goods and inventory and cost of goods sold are adjusted periodically for variances of actual costs ...
It is an extremely useful tool for the comparison the actual cost incurred to the cost that are allowed for a given activity level. It is dynamic by its nature rather than static.
A new unit cost allocation is calculated based upon total actual costs incurred during the approved Revenue Procedure 92-29 period. A prior period correction is recognized for the difference in all deductions claimed under Revenue Procedure 92-29 vs.
Standard costs are compared to actual costs, and mathematical deviations between the two are termed variances. Favorable variances result when actual costs are less than standard costs, and vice versa.
If the suit is successful, the court may award the victims cash compensation for damages, "punitive" damages above the actual cost of the injury in order to punish the defendent, ...
This term formerly known as CNF (C&F) defines two distinct and separate responsibilities-one is dealing with the actual cost of merchandise "C" and the other "F" refers to the freight charges to a predetermined destination point.
The premium is normally more than the actual cost of protection during the earlier years of the policy and less than the actual cost in the later years. The building of a reserve is a natural result of level premiums.
Replacement cost depreciation is the actual cost to currently replace the asset. Depreciable cost is the difference between the original cost and salvage value of the asset.
When investing in gold, you need to be aware of the actual cost per ounce of the gold. Check the day you're going to invest, because the price of gold fluctuates quite a bit.
Keep in mind that the actual cost of the car will be much more in reality, but one cannot account for every fee charged at every dealership across each state in America. At an interest rate of 6% over 60 months, you would be paying $315.
Definition: Dumping is when a country lowers the sales price of an export below its actual cost to produce.
discrepancy between estimated and actual costs the difference between the estimated costs of buying or selling a security and the actual costs of the transaction
slippage - Related Articles
Dominica
QFINANCE Country Profiles ...
It is favorable if actual costs of indirect material - for example, paint and consumables such as oil and grease - are lower than standard variable overhead. It is unfavorable if actual costs are higher than budgeted costs.
Provides the borrower with information about the actual cost of the loan, including the interest rate, origination, insurance, loan fees and any other types of finance charges.
In cost accounting, it's the difference between the actual cost and the standard cost of the cost components. In financial accounting it's the difference between actual income and expenses and budgeted amounts, or between comparative statements (e.
Cost-of-service regulation Regulation based on allowing prices to reflect only the actual cost of production and no monopoly profits.
Cost-push inflation Inflation caused a by continually decreasing short-run aggregate supply curve.
After-Tax Investment: After-tax investment is the actual cost, after tax benefits, of the investment. It is often referred to as hard dollar investment.
The extra cash you prepaid would be used to make up the difference between the amounts due calculated at the lower rates and the actual cost of borrowing - in this case about $200 a month in the first year.
In this fictitious example, the cost shown is $747,325 to purchase this initial set of bonds, excluding transaction costs and fees, but the actual cost would vary depending on yields, quality of bonds used, and length of the time horizon.
Excess of actual REVENUE over projected revenue, or actual costs over projected costs.
A static budget is a budget designed to cover only one level of activity and in which actual costs are always compared against budgeted costs at this one activity level.
Statistical process control (SPC) ...
(A person who has been declared bankrupt cannot hold certain jobs.) While the total fees are lower, the actual costs involved in applying for an IVA can run into several thousands of pounds and make this option appropriate if you have unsecured ...
The deductible amount you can claim for each mile you use your car for business, charitable, job-related moving or medical purposes without having to keep track of the actual cost. The rates are announced by the IRS in the spring of each year.
Policy Dividend: A refund of part of a life insurance premium reflecting the difference between the premium charged and the insurer's actual cost of providing coverage, if lower than previously anticipated.
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correcting entry An entry made to correct an error in a journal entry discovered after posting.
cost of merchandise The actual cost to the business of the merchandise sold to customers.
The fees are likely small in relation to the actual cost of the transaction so there is little pressure on pricing. Persistence of adjusted earnings has been reasonably strong with earnings per share growth in each year since 2000.
The cash value of an insurance policy is the amount the insurer will pay you, based on your policy's cash reserve, if you cancel your policy. The cash value is the difference between the amount you paid in premiums and the actual cost of insurance ...
Federal Reserve, lenders are required to include the APR whenever the interest rate is mentioned in any documentation... this is called Truth In Lending! The APR includes the interest rate, points, and all fixed fees and documents the actual cost to ...
A present benefit received by a participant in the form of current life insurance protection that must be included in taxable gross income for that year. The cost attributable to this pure life protection will be the lower of the actual cost as ...
This is because mortgage rates are a key factor in determining the affordability of houses. The lower the rate the less a given mortgage is going to cost you but if interest rates rise the actual cost to you each month will also rise.
This is usually somewhat different as the the price setting process is modified to give sellers motivation to be efficient: for example, by basing it on what the regulator calculates costs should be, rather than on actual costs.
Presenting assets at historical cost is justified by assuming productive assets will be used rather than sold. This makes market values irrelevant and supports accounting methods that match the actual cost of an asset to periods benefited.
The full amounts of the actual costs of the war, however, are not shown in these figures. Very. considerable sums, as the accounts got more and more in arrears, only became due a considerable time after the war was over.
House and content insurance - this amount is not dependant on the size of the mortgage or the land, but the actual cost to replace the dwelling and its contents. The larger the house, the more its going to cost for insurance.
BOOK VALUE -- The value of individual asset as recorded in the accounting records of a taxpayer, calculated as actual cost less allowances for any depreciation ...
 See also: Expense, Values, Banks, Job, Saving
  
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