costs of production
41Development costs — Costs incurred to obtain access to proved reserves and to provide facilities for extracting, treating, gathering, and storing the oil and gas. More specifically, development costs, depreciation and applicable operating costs of support… …
42fixed costs — costs, which are incurred by a business whether it is operating to generate income or not and which do not necessarily increase or decrease as a total volume of production, increases or decreases. Rent, for example, must be paid whether or not… …
43inventoriable costs — Costs that can be included in the valuation of stocks, work in progress, or inventories according to Statement of Standard Accounting Practice 9. Stocks should be valued at the lower of cost or net realizable value and the costs incurred up to… …
44reciprocal costs — Costs apportioned from a service cost centre to a production cost centre that carries out work for the original service cost centre. Consequently, a proportion of the production cost centre costs should also be re apportioned to the service cost… …
45reciprocal costs — Costs apportioned from a service cost centre to a production cost centre that carries out work for the original service cost centre. Consequently, a proportion of the production cost centre costs should also be reapportioned to the service cost… …
46List of production topics — Production Contents 1 Overview 2 History 3 General concepts 3.1 Manufacturing and manufacturing systems …
47Carrying costs — Costs incurred in order to retain exploration and property rights after acquisition but before production has occurred. Such costs include legal costs for title defense, ad valorem taxes on nonproducing mineral properties, shut in royalties,… …
48manufacturing costs — *Costs directly attributable to the *production of tangible items. Administration costs are normally excluded from definitions of manufacturing costs …
49Intangible Drilling Costs - IDC — Costs to develop an oil or gas well for the elements that are not a part of the final operating well. Intangible drilling costs (IDCs) include all expenses made by an operator incidental to and necessary in the drilling and preparation of wells… …
50intangible drilling costs — Costs incurred incident to and necessary for the drilling and preparation of oil or gas wells for production that have no salvage value. Under I.R.C. No. 263, such costs may be deducted in the year paid rather than capitalized and depreciated …
