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actual cost

   Also found in: Acronyms 0.03 sec.
actual cost [′ak·chə·wəl ′kȯst]
(industrial engineering)
Cost determined by an allocation of cost factors recorded during production.


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Subsequent to that decision, the IRS began considering circumstances specific to automobile dealers, such as industry practice, the use of replacement cost required by third parties, the administrative burden of switching to actual cost and the close correlation to replacement cost and actual cost in this industry.
But the actual cost will depend on milk prices over the next year and a half.
The quote is based on the member's specific benefit plan and reflects the actual cost the member can expect to pay out-of-pocket for a given prescription drug at a specific pharmacy.
 
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