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    Costing

    /ˈkɒstɪŋ/

    Meaning & Definition

    noun
    The calculation of the total cost of producing or providing a product or service.
    The costing for the new project was significantly higher than planned.
    An estimate of how much money is required for production or services.
    We need to prepare a costing to present to the board next week.
    The process of determining the cost of goods or services.
    Accurate costing is crucial for setting competitive prices.
    verb
    Present participle of cost; to calculate or determine the cost of something.
    The new software is costing more than initially projected.
    To result in a financial expenditure or loss.
    This renovation project is costing us a fortune.

    Etymology

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

    Common Phrases and Expressions

    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.

    Related Words

    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.

    Slang Meanings

    Big bucks
    That car is nice, but it costs big bucks.
    Bank breaker
    This new phone is a bank breaker.