- Expense; price. The sum or equivalent expended, paid or charged for something.See also actual cost- costs- net cost- rate- costing- cost bond- costs- unit cost@ cost accountingThe area of accounting which focuses on the method and system used to compile and analyze the costs of selling and manufacturing products. It includes the method for classifying, summarizing, recording, reporting, and allocating the actual costs incurred and comparing them with the standard costs established. Areas of cost accounting include: job order, process, direct, and standard costing@ cost basisIn accounting, the cost basis of an asset is the amount paid for the asset in cash or property. The value placed on an asset in a financial statement in terms of its cost; used in determining capital gains or losses@ cost contract@ cost depletionIn accounting and taxation, depletion computed in oil production without reference to discovery or percentage depletion. Magale v. U. S., 118 Ct.Cl. 183, 93 F.Supp. 1004@ cost of completionMeasure of damages in breach of contract claim or action.@ imputed costA value expressing cost which is derived from or based on factors other than actual cost records; estimated costs.@ marginal costThe increase or decrease in total cost that materializes as a result of a variation in output.@ unit costCost of a single unit of product or service. Total cost divided by number of units.@ cost and freight(C.A.F.)Quoted sales price includes cost of goods and freight but not insurance or other special charges@
Black's law dictionary. HENRY CAMPBELL BLACK, M. A.. 1990.