actual cost

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actual cost

[′ak·chə·wəl ′kȯst]
(industrial engineering)
Cost determined by an allocation of cost factors recorded during production.
References in classic literature ?
After the first year,' say the trustees, 'an account current will be opened with each pupil; he will be charged with the actual cost of his board, which will not exceed two dollars per week;' a trifle more than eight shillings English; 'and he will be credited with the amount paid for him by the state, or by his friends; also with his earnings over and above the cost of the stock which he uses; so that all his earnings over one dollar per week will be his own.
It was said that the actual cost of the Bell plant was only one-twenty-fifth of its capital, and that every four cents of investment had thus become a dollar.
The application should be used for apportioning common costs and billing actual costs for various services provided by 3rd party vendors or by specific Agencies.
Underbidding and cost overruns are common in defense contracting, because contractors like Lockheed know they can go back to the government and ask for more money to cover their actual costs.
The agency has already releases illustrations pointing out the gap between bills and the actual costs of water and electricity.
These programs can account for most, if not all of their actual costs and we can now determine their "Cost Growth Factor" or CGF.
The proposed regulations increase the fees to bring them in line with actual costs.
The story begins in 1995 with the finance minister of the time, Paul Martin who ended the Canada Assistance Plan, a program that required the federal government to share the actual costs of welfare.
Actual costing--ETO companies use project accounting and collect actual costs rather than the standard costing method used by most repetitive manufacturing companies.
GAO (1) compared estimated and actual costs for recently completed courthouse projects and determined what information GSA provided to Congress on changes to proposed courthouse projects, (2) identified factors that contributed to differences between the estimated and actual costs of seven projects selected for detailed review, and (3) identified strategies that were used to help control the costs of the seven selected projects.
The Monetary Control Act of 1980 requires the Federal Reserve to set fees for the services it provides to depository institutions at a level sufficient to recover, over the long run, the actual costs of providing these services, as well as the imputed costs and profits.
In addition, council members said they would push for legislation to raise the state's reimbursement for Medicare and Medi-Cal patients from current levels, which cover less than half of actual costs.