Meaning & Definition of word "Costing"

Costing

/ˈkɒstɪŋ/

1. The calculation of the total cost of producing or providing a product or service.
- Example: The costing for the new project was significantly higher than planned.
2. An estimate of how much money is required for production or services.
- Example: We need to prepare a costing to present to the board next week.
3. The process of determining the cost of goods or services.
- Example: Accurate costing is crucial for setting competitive prices.

1. Present participle of cost; to calculate or determine the cost of something.
- Example: The new software is costing more than initially projected.
2. To result in a financial expenditure or loss.
- Example: This renovation project is costing us a fortune.

●Derived from the verb 'cost', combining with the suffix '-ing' to denote the act or process.

costing an arm and a leg:

To be very expensive.

cutting costs:

Reducing expenses or expenditures.

cost of living:

The amount of money needed to maintain a certain standard of living.

cost:

The amount that needs to be paid or spent to buy or obtain something.

expense:

The cost required for something; the money spent on something.

budget:

An estimate of income and expenditure for a set period of time.

Meaning: Big bucks

● Example Sentence: That car is nice, but it costs big bucks.

Meaning: Bank breaker

● Example Sentence: This new phone is a bank breaker.