Actual Cost

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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 ?
Actual cost or percentage of the actual cost (There is an actual cost to be borne by one or few units)
The discrepancy between actual costs and bills has been termed "waived cost" by the RSB.
However, that high percentage is based upon a mixture of actual costs, estimated costs, and new reporting programs.
The CHST provides each province with an annual lump sum payment, determined by a complex formula that is unrelated to the actual cost of the program.
The actual costs of courthouse construction projects exceeded the estimated costs submitted to Congress at the design and construction phases by an average of 17 percent and 5 percent, respectively, and the reasons for the cost changes were not consistently explained.
The question is whether to use actual costs or standard mileage as the way to calculate the expense.
Also available to the group is the cost report, which identifies by specific patient actual costs during the same time period.
Staff who use their car for their employer's business can currently claim tax relief either on the actual costs they incur or, under a simplified scheme, at mileage rates based on published average costs of motoring, ranging up to 63p per mile.
As the project gets off the ground and the steel chips start flying, the software will track actual costs.
While the RGB does survey owners to get an indication of actual costs, those surveys are limited in scope and not designed to measure actual costs, but merely increases from year to year in a general way.
If they don't do so, they will very likely underestimate their actual costs, and the more complex their patients' medical needs, the larger the errors will get.
Figure 6, for example, compares the actual costs of treating pediatric patients in Wetaskiwin Hospital with those of a large tertiary teaching facility for the same RGNS.