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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
N. K. Gupta posted an Question
April 06, 2021 • 18:48 pm
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30 points
30 points
- UGC NET
- Commerce
Engineered cost, out of pocket cost, managed cost explain simple
engineered cost, out of pocket cost, managed cost explain simple
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Rucha rajesh shingvekar
Engineered Costs is an organization that are directly linked and proportional to the yield of a production process. In other words, costs of inputs that are variable in terms of cost behavior and can be measured in a dollar amount. An out-of-pocket expense (or out-of-pocket cost, OOP) is the direct payment of money that may or may not be later reimbursed from a third-party source. For example, when operating a vehicle, gasoline, parking fees and tolls are considered out-of-pocket expenses for a trip.
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Gaurav soin
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Engineered costs are elements of cost for which the right or proper amount of costs that should be incurred can be estimated with a reasonable degree of reliability. For example : Costs incurred in a factory for direct labor, direct material, components, supplies, and utilities. An out-of-pocket expense is the direct payment of money that may or may not be later reimbursed from a third-party source. For example, when operating a vehicle, gasoline, parking fees and tolls are considered out-of-pocket expenses for a trip. A discretionary cost or Managed Cost is a cost or capital expenditure that can be curtailed or even eliminated in the short term without having an immediate impact on the short-term profitability of a business.
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Rucha rajesh shingvekar
managed cost means Where expenditure CAN be delayed, reduced or eliminated without an immediate major disruption in the institution's programme, then it should be categorised as a managed cost.