- costing cost‧ing [ˈkɒstɪŋ ǁ ˈkɒːst-] noun [countable, uncountable] ACCOUNTINGthe process of calculating the cost of a future activity or product, or the calculation itself:
• Railtrack originally said the scheme would cost £100 million, but last year produced revised costings of £350 million.abˈsorption ˌcosting [uncountable] ACCOUNTINGa way of calculating the cost of a product, including the cost of producing it and also the general costs of running the business or factoryˈbatch ˌcosting [uncountable] ACCOUNTINGa system where the cost of making a product is calculated by the batch rather than by the individual item, including comparing the costs of different sized batches made under different conditionsˈjob ˌcosting [uncountable] ACCOUNTINGthe costing of each piece of work in a production process as a separate costˌmarginal ˈcosting also ˌstandard ˈcosting [uncountable] ACCOUNTINGa system of costing where Overheads (= general costs not directly related to particular goods or services) are not included and are calculated separately
* * *costing UK US /ˈkɒstɪŋ/ US /ˈkɑːstɪŋ/ noun [C or U] ACCOUNTING► the process of calculating how much a product or service will cost, or the actual calculation itself: »
We'll need to see some detailed costings before we can decide to go ahead with the project.»
This software will help you provide accurate costing for each job that you do.→ See also ABSORPTION COSTING(Cf. ↑absorption costing), BATCH COSTING(Cf. ↑batch costing), DIRECT COSTING(Cf. ↑direct costing), FULL COSTING(Cf. ↑full costing), JOB COSTING(Cf. ↑job costing), MARGINAL COSTING(Cf. ↑marginal costing), STANDARD COSTING(Cf. ↑standard costing), VARIABLE COSTING(Cf. ↑variable costing)
Financial and business terms. 2012.