costs of sales
21Reimbursable Out-Of-Pocket Costs — Cash payments that an individual or company incurs on behalf of the company, and that will be refunded sometime in the future. While some of these costs may have personally benefited the employees, companies are willing to repay employees for… …
22Operating Costs — A company s direct costs in producing goods and services for sale, including raw materials, labour, sales and administration costs. Also known as cost of sales …
23direct costs — 1) Product costs that can be directly traced to a product or cost unit They are usually made up of direct materials costs (which can be charged directly to the product by means of materials requisitions), direct labour costs (charged by means of… …
24gross sales — The total dollar value of all revenue derived by the firm from the principal operations of its business during the period covered by the income statement report. American Banker Glossary total sales calculated by summing all sales at invoice… …
25net sales — Term used to describe a firm s revenue after the amount of returns, allowances, and discounts is deducted from gross revenue from the firm s principal operations. American Banker Glossary Gross sales less returns and allowances, freight out, and… …
26joint costs — In process costing, the costs incurred prior to the separation point after which the joint products are treated individually. The joint costs are therefore common to the joint products; in order to determine individual product costs, the joint… …
27Contract sales organization — A Contract Sales Organization (CSO) is a firm or company that assists companies in the sales and marketing of their products and/or services. The term CSO is especially prevalent in the life sciences, medical device, and medical product launch… …
28Menu Costs — An economic term used to describe the cost incurred by firms in order to change their prices. How expensive it is to change prices depends on the type of firm. For example, it may be necessary to reprint menus, update price lists or retag… …
29cost of sales — ˌcost of ˈsales noun [uncountable] ACCOUNTING another name for cost of goods sold: • Fuel represented less than 3% of Carnival s cost of sales. * * * ► See Operating Costs. * * * cost of sales UK US noun [U] ACCOUNTING …
30cost of sales — cost of goods sold; = COGS A figure representing the cost to an organization of supplying goods or services for sale, excluding administration and other general overheads. In a sales organization, it is the opening stock at the beginning of an… …
