Meaning & Definition of word "Costing"
Costing
/ˈkɒstɪŋ/
noun:
- 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.
verb:
- 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.
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 of costing
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.