production cost per unit
1Production Cost — A cost incurred by a business when manufacturing a good or producing a service. Production costs combine raw material and labor. To figure out the cost of production per unit, the cost of production is divided by the number of units produced. A… …
2unit standard production cost — The standard production cost, expressed as a rate per unit of production or sales …
3unit standard production cost — The standard production cost, expressed as a rate per unit of production or sales …
4Production Volume Variance — The amount of fixed overhead costs that are not allocated to a product because actual production varies from budgeted production. Also known as fixed overhead volume variance. Mathematically, production volume variance is expressed as: (Actual… …
5Cost-Volume-Profit Analysis — Cost Volume profit (CVP), in managerial economics is a form of cost accounting. It is a simplified model, useful for elementary instruction and for short run decisions. Cost volume profit (CVP) analysis expands the use of information provided by… …
6Cost curve — In economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms use these curves to find the optimal point of production (minimising cost), and… …
7production, theory of — ▪ economics Introduction in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it will produce, and how much of each kind of labour, raw… …
8cost function — A formula or equation that represents the way in which particular costs behave when plotted on a graph. For example, the most common cost function represents the total cost as the sum of the fixed costs and the variable costs in the equation y =… …
9cost function — A formula or equation that represents the way in which particular costs behave when plotted on a graph. For example, the most common cost function represents the total cost as the sum of the fixed costs and the variable costs in the equation y =… …
10production retread shop — A shop which schedules its production not on the basis of day to day orders but rather on long runs of purchased tire casings in order to secure the lowest cost per unit …
