production cost

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 manufactured

Big dictionary of business and management. 2014.

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  • 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 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

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