process costing

American  

noun

Accounting.

1. a method of assigning costs to production processes where products must of necessity be produced in one continuous process, with unit cost arrived at by averaging units produced to the total cost of the process.

---

Compare meaning

How does process-costing compare to similar and commonly confused words? Explore the most common comparisons:

• job order vs. process costing

Example Sentences

Ty Gibbs had incurred criticism after wrecking teammate Brandon Jones at a race last week, in the process costing the latter a shot at the season title.

From Washington Post • Nov. 6, 2022

So far 150 cases have been settled since the start of a "healing process", costing the health board more than £2m.

From BBC • Sep. 28, 2021

Testing the kits — a process costing between $500 and $1,000 — is only the first step.

From Washington Post

Duplicating records and tapes is now a fairly cheap and easy process, costing about $1 for a record and somewhat less for an eight-track tape.

From Time Magazine Archive

This cobbing is a very troublesome and expensive process, costing about 5 dollars a ton.

From Asbestos Its production and use, with some account of the asbestos mines of Canada by Jones, Robert H.