MATERIAL COST
\mətˈi͡əɹɪə͡l kˈɒst], \mətˈiəɹɪəl kˈɒst], \m_ə_t_ˈiə_ɹ_ɪ__əl k_ˈɒ_s_t]\
Sort: Oldest first
-
Product production's monetary investment. Things that incur material costs, for example, are the ingredients of a meal or the parts of a machine. The cost of labor to produce the product is separate from this cost. The total cost of a product and its eventual sale price are arrived at by combining the material cost with the cost of labor.
By Henry Campbell Black
