absorption costing

English

Pronunciation

(US) IPA^(key): /æbˈsɔɹp.ʃn̩ ˈkɑs.tɪŋ/, /æbˈzɔɹp.ʃn̩ ˈkɑs.tɪŋ/, /əbˈzɔɹp.ʃn̩ ˈkɑs.tɪŋ/, /əbˈsɔɹp.ʃn̩ ˈkɑs.tɪŋ/

Noun

absorption costing (countable and uncountable, plural absorption costings)

(business) An accounting method to calculate the total cost of a product by factoring both direct and indirect costs.

References

Lesley Brown, editor-in-chief, William R. Trumble and Angus Stevenson, editors (2002), “absorption costing”, in The Shorter Oxford English Dictionary on Historical Principles, 5th edition, Oxford, New York, N.Y.: Oxford University Press, →ISBN, page 9.

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