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Extended Cost
In accounting, an extended cost is the unit cost The unit cost is the price incurred by a company to produce, store and sell one unit of a particular product. Unit costs include all fixed costs and all variable costs Variable costs are costs that change as the quantity of the good or service ... multiplied by the number of those items that were purchased. For example, four apples purchased at a unit cost of $1 have an extended cost of $4 (=$1 × 4 apples). By accurately tracking extended cost, a business can make more informed decisions about pricing, purchasing, and inventory management. References Management accounting {{Accounting-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting
Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measurement ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unit Cost
The unit cost is the price incurred by a company to produce, store and sell one unit of a particular product. Unit costs include all fixed costs and all variable costs Variable costs are costs that change as the quantity of the good or service that a business produces changes.Garrison, Noreen, Brewer. Ch 2 - Managerial Accounting and Costs Concepts, pp 48 Variable costs are the sum of marginal costs over all u ... involved in production. Cost unit is a form of measurement of volume of production or service. Cost unit vs unit cost Cost unit is the standard unit for buying the minimum of any product. Unit cost is the minimum cost for buying any standard unit. References {{Business-term-stub Costs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
