The difference between a company's income and economic costs.
Output rate at which an end-product can be manufactured at the least total cost.
Provision in a contract document for upward or downward revision of specified prices, if and when certain conditions (such as inflation or deflation) occur.
Selling price that includes direct, indirect, and hidden costs like downtime and opportunity cost.
Reduction in the desirability or economic life of an asset caused by factors such as regulatory changes, technological changes, and excess supply.
Quantity of material or units of a manufactured good that can be produced or purchased within the lowest unit cost range. It is determined by reconciling the decreasing unit cost of larger quantities with the associated increasing unit cost of handling, storage, insurance, interest, etc.
Period over which an asset (machine, property, computer system, etc) is expected to be usable, with normal repairs and maintenance, for the purpose it was acquired, rented, or leased. Expressed usually in number of years, process cycles, or units produced, it is usually less than the asset's ...
Physical inventory plus replenishment ordered but not yet received less items sold but not yet delivered. It indicates the amount exposed to the risk of fall in prices. Also called economic stock.
