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Components of price. Image according to Garrett (2008), figure 4-1, p.65. In business economics cost breakdown analysis is a method of cost analysis, which itemizes the cost of a certain product or service into its various components, the so-called cost drivers.
A cost object is a term used primarily in cost accounting to describe something to which costs are assigned. [1] Common examples of cost objects are product lines ...
The cost of living is the cost of maintaining a certain standard of living for an individual or a household.
Cost accounting is defined by the Institute of Management Accountants as "a systematic set of procedures for recording and reporting measurements of the cost of ...
For example, the manufacturing cost of a car (i.e., the costs of buying inputs, land tax rates for the car plant, overhead costs of running the plant and labor costs) reflects the private cost for the manufacturer (in some ways, normal profit can also be seen as a cost of production; see, e.g., Ison and Wall, 2007, p. 181).
A cost-sharing problem is defined by the following functions, where i is an agent and S is a subset of agents: Value(i) = the amount that agent i is willing to pay in order to enjoy the service. Cost(S) = the cost of serving all and only the agents in S. E.g., in the above example Cost({Alice,George})=9000.
Cost price is also known as CP. cost price is the original price of an item. The cost is the total outlay required to produce a product or carry out a service. Cost price is used in establishing profitability in the following ways: Selling price (excluding tax) less cost results in the profit in money terms.
A cost centre is a department within a business to which costs can be allocated. The term includes departments which do not produce directly but they incur costs to the business, [1] when the manager and employees of the cost centre are not accountable for the profitability and investment decisions of the business but they are responsible for some of its costs.