product cost

  

Definition

The sum of all costs associated with the production of a specific quantity of a good or service.

Use product cost in a sentence

  • product cost generally refers to the financial costs incurred in the creation of a particular product. However, product cost can also be considered the cost of labor required to deliver a service.

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  • When you are coming up with a new idea one of the most important things you will need to figure out is the product cost.

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  • When calculating product cost, don't forget the intangible aspects, such as marketing, distribution, and most importantly, when developing applications for Android, the requisite candles and goats.

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