Cost associated with each unit produced. cost per unit of product a = total cost/number of units = $120,000/300= $400; cost per unit of product b = $140,000/400= $350; cost per unit of product c = $190,000/ 500= $380 . key takeaways. a cost driver is the most appropriate way of calculating or determining a specific cost.. Define cost. cost synonyms, cost pronunciation, cost translation, english dictionary definition of cost. n. 1. an amount paid or required in payment for a purchase; a price. 2.. Cost computation: it is the source of all other functions of cost accounting as we can calculate the cost of sales per unit for a particular product. cost reduction: cost computation helps the company reduce costs on projects and processes. reduction in costs means more profits since the margin will naturally increase..
The cost estimate is the product of the cost estimating process. the cost estimate has a single total value and may have identifiable component values. a problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. a cost estimator is the professional who prepares cost estimates..
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