absorption

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Absorption

1. The total demand for all goods and services in an economy. One calculates the absorption by adding the value of all goods and services produced and consumed locally to that of all imports.

2. A French term for acquisition.

absorption

the sharing of indirect costs or OVERHEADS to units of product by means of COST RATES. Provided that actual overheads do not exceed BUDGET and that actual output is the same as budgeted output, then the overhead cost rate should allow total product cost to be determined, and a selling price set which will recover the overhead costs involved in producing and selling the product. See STANDARD COST, OVERHEAD COST VARIANCE.
References in periodicals archive ?
Main and interaction effects of process input variables on chemical absorption
We have been exploring options like providing a finish to the leather that would reduce chemical absorption, while making it easy to clean and decontaminate," Barker said.
Currently, a handful of coal plants with commercial C[O.sub.2] capture capability use processes based on chemical absorption with monoethanolamine, a general-purpose solvent developed by chemists some 75 years ago.
Phthalates (pronounced thal-lates) are used to make plastics soft, hold synthetic fragrances and dyes, and enhance chemical absorption in the skin.
Precision glass balls with superior corrosion and chemical absorption resistance are suitable for applications in medical, optical, and food processing equipment.
Resistant to water, chemical absorption, and steam cleaning, RT wheels are suitable for food processing, tool storage, sanitary maintenance, warehousing, and other applications that require durability and easy mobility under heavy loads.

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