material cost
Raw input price
Material cost is the expense of raw materials or components used to produce a finished product.
In manufacturing and construction, material costs are tracked separately from labor and overhead: Material costs account for sixty percent of our production budget.
The term appears in accounting, budgeting, and project estimation.
- sourcingObtaining from suppliers
- supply chainProduct delivery infrastructure
- unit priceCost per single item
- sustainable sourcingAcquiring materials responsibly
- renewable resourcesSupplies that naturally replenish
bulk discount · market rates · customs fees · lead times · price volatility · sticker shock · depreciation · profit margins · bottom line · freight charges · automotive parts · textile fibers · medical supplies · forecasting models · import tariffs · financial audits · commodity prices · carbon footprint reduction
- expensesexpenses, expense, expenditure, rent, bill
- costsoverhead
- damage claimsproperty damage, fire damage, water damage, storm damage, hail damage
- metricsKPI, metric, KPIs, metrics, statistics
- out-of-pocket costsout-of-pocket, copay, copayment, deductible, coinsurance
material costlabor cost
Price of human effort
direct labor · overhead · operating expense · fixed cost · wages
material, cost, materials, materially, materialism, materialist, materialistic, materialize, materialized