Definition: Actual cost is an accounting term that means the amount of money that was paid to acquire a product or asset. It’s exactly what it sounds like—the actual cost. This cost could be either a historical, past, or present day cost of product. You might be thinking to yourself what other costs are there besides the actual cost of an item.

• Actual Meaning In Spanish
• What Does Actual Mean
• Mtd Actual Meaning

Actual: existing in fact and not merely as a possibility. Synonyms: concrete, de facto, effective Antonyms: conjectural, hypothetical, ideal Find the right word.

What Does Actual Cost Mean?

Actual Meaning In Spanish

Well keep in mind in managerial accounting, you also have budgeted and forecasted costs. Qc incorporated modems driver download for windows. Neither of these costs reflects reality or actual costs most of the time. Management might set a budget to buy a new piece of equipment, but this budget does not always happen. Sometimes companies can get discounts from vendors and other times product prices increase.

• Actual: 1 adj existing in act or fact “rocks and trees.the actual world” “ actual heroism” “the actual things that produced the emotion you experienced” Synonyms: factual existent, real being or occurring in fact or actuality; having verified existence; not illusory adj being or existing at the present moment “the ship's actual position is.
• Synonyms for actual include real, genuine, true, authentic, confirmed, verified, definite, existent, factual and attested. Find more similar words at wordhippo.com!
• 1 Existing in fact; real. ‘There are actual real live people out there that Blog and I'm going to meet one, How exciting!’. ‘Somewhere in this mass of opinions and actual fact lies the truth about what is actually safe.’. ‘I think maybe to read this blog you have to know the person and know what is going on in the actual real life.’.

Example

Actual cost also applies to manufacturing products as well. The actual cost of manufacturing a product is the total expenditures required to build or manufacture the product. Think of actual cost as the end result of a manufacturing process.

First, a company starts planning the production and forecasts what the expenses will be. Panini driver download for windows 10. Second, the company budgets what it will be able to afford and adjusted to the production levels to meet the budget. If everything goes according to plan, the actual costs will equal the budgeted costs. In the real world, things can go wrong and budgets are not always met. The end result is the actual cost. It could be plus or minus the budgeted or forecasted cost.

What Does Actual Mean

Mtd Actual Meaning

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