“At cost” is a term that is commonly used in the business world. It is a phrase that is used to describe the cost of a particular item or service. The meaning of “at cost” can vary depending on the context in which it is used. In this article, we will explore the definition and meaning of “at cost” in detail.
Definitions
“At cost” is a term that is used to describe the price of a product or service that includes only the cost of production, without any profit margin added. It is the price at which a product or service is sold without any additional markup. This means that the price of the product is equal to the cost of producing it, plus any additional expenses such as shipping or packaging.
Origin
The origin of the term “at cost” can be traced back to the early days of commerce. It was originally used to describe the price of goods or services that were sold at the cost of production, without any additional markup or profit margin added. This practice was common in the early days of trade, when merchants would sell goods at cost in order to establish a reputation for fairness and honesty.
Meaning in different dictionaries
According to the Merriam-Webster dictionary, “at cost” is defined as “at the cost of production or purchase without markup.” The Oxford English Dictionary defines it as “at a price that covers only the direct cost of production, without any profit margin added.”
Associations
The term “at cost” is often associated with the concept of cost accounting, which is the process of analyzing and managing the costs associated with producing a product or service. It is also associated with the concept of cost-plus pricing, which is a pricing strategy that involves adding a markup to the cost of production in order to generate a profit.
Synonyms
Some synonyms of “at cost” include “cost price,” “wholesale price,” and “direct cost.”
Antonyms
The antonyms of “at cost” include “retail price,” “list price,” and “marked-up price.”
The same root words
The root word of “at cost” is “cost,” which is defined as “the amount that is required or spent in order to produce, acquire, or maintain something.”
Example Sentences
- The company sold the product at cost in order to establish a reputation for fairness and honesty.
- The manufacturer offered to sell the product to us at cost, without any markup.
- We were able to purchase the raw materials at cost, which allowed us to keep our production costs low.