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Actual Cost Analysis
The process of examining the real and total costs incurred in the production of goods or provision of services, after the fact, to ensure accurate costing and pricing.
Indirect Costs
Expenses that are not directly traceable to a product, service, or project, such as rent, utilities, and administrative salaries.
Cost Centres
Divisions or units within an organization that do not directly generate revenue but incur costs, used for budgeting and cost control.
Cost Drivers
Factors that cause the costs of an activity to go up or down, like machine-hours or labor-hours, affecting the total cost of production.
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