actual cost
True incurred price
Actual cost is the real amount spent on something, as opposed to estimated, budgeted, or standard costs.
The term appears frequently in accounting, project management, and contract work, where tracking the difference between planned and actual costs matters: The actual cost came in twenty percent over budget.
In cost accounting, comparing actual costs to standard costs reveals variances that need explanation.
- final priceAmount ultimately owed
- bottom lineEssential point or conclusion
- out-of-pocketPaid from personal funds
- invoiceItemized billing statement
- receiptWritten payment acknowledgment
bill · expenditure · outlay · spend · budget · overhead · money pit · sticker shock · hidden fees · fine print · nickel and dime · markup · estimate · quote · variance · overrun · shortfall · ledger
- costsoverhead
- paid searchPPC, Google Ads, ad auction, keywords, bidding
- cost variancesbudget variance
- real worldphysical reality, daily life, lived experience, real life, natural world
- inventorystock, items, products, merchandise, assets
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