Actual Cost


Also found in: Acronyms, Encyclopedia.

Actual Cost

The cost a company pays or is paid for a good or service. The actual cost may be more or less than the estimated cost. For example, a car shop may estimate that repairs will cost $700, but the actual cost may in fact be $800. One often is not informed of the actual cost until it is incurred.
References in periodicals archive ?
In this case, nearly 50 per cent of the actual cost of water and electricity is waived.
The SAR reports from December 2001 through December 2005 indicate that actual cost increases of $230.
Surprisingly, the Scandinavian countries of Sweden and Norway were far lower down when ranked by actual cost, taking places 13 and 18 respectively.
Based on my experience, this is the most commonly used method for current and past acquisitions of property, as well as past construction projects where actual cost records are not available.
19, 2006 continents, the AICPA proposed that the IRS and Treasury should allow the use of the rolling average cost method in valuing inventories when this method approximates actual cost.
These costs range from the need for extra baggage handlers to TSA security screeners to the actual cost of the luggage being on the airplane.
10% of actual cost excluding VAT as a performance guarantee of contract
The qualified direct cost of insured death benefits can be based on Table 2001, (1) or another acceptable method of determining the actual cost of the death benefit.
If the cost of a building permit reflected the actual cost of a new home, the cost of that building permit for a single-family home or apartment would be in excess of $40,000.
The rates our industrial customers pay for electricity could be reduced immediately to below the national average if they reflected only our actual cost of service," Clark said.
The RCL can be identified as an element of the hospital's audited Medicare cost report and is measured as the difference between the actual cost for all Medicare days and the total of the allowable "per diem" limit.
Based on lessons learned from the 800 MHz Reconfiguration program to date, the TA has identified a number of areas that require additional guidance for licensees, including mutual aid and interoperability, Cost Estimate preparations, Change Notice and Amendment, actual cost reconciliation, and incumbent labor rates.