costing Definition
- 1the process of estimating or determining the cost of something
- 2the amount of money that something costs
Using costing: Examples
Take a moment to familiarize yourself with how "costing" can be used in various situations through the following examples!
Example
The costing of the project was done by the finance department.
Example
The costing of the product is too high for the target market.
Example
The company is reviewing the costing of its services to remain competitive.
costing Synonyms and Antonyms
Phrases with costing
Example
The company uses a sophisticated costing system to determine the price of its products.
Example
The company uses job costing to determine the cost of each project.
a costing method used to determine the cost of producing a product or service based on predetermined standards
Example
The company uses standard costing to determine the cost of its products.
Summary: costing in Brief
The term 'costing' [ˈkɒstɪŋ] refers to the process of estimating or determining the cost of something, or the amount of money that something costs. It is commonly used in business contexts, such as 'The costing of the project was done by the finance department.' 'Costing' extends into phrases like 'costing system,' which refers to a method used by companies to determine the cost of their products or services.