Costing
'kɒstɪŋ
Definitions
The process of calculating or estimating the expense or price of something.
'kɒstɪŋ
To determine or estimate the price or expense of something.
The project is costing more than originally budgeted.
💡 Simply: Imagine you're planning a party. Costing is figuring out how much each thing (food, decorations, etc.) will cost, so you know if you can afford it!
👶 For kids: Figuring out how much something costs.
More Examples
We are costing the various options to find the most economical solution.
The team has been costing out the potential benefits of outsourcing the services.
How It's Used
"The company is costing the project to determine its feasibility."
"Costing of goods sold is a crucial step in financial reporting."
Synonyms & Antonyms
Synonyms
Idioms & expressions
at all costs
Regardless of the effort or sacrifice required.
"We must succeed at all costs."
cost an arm and a leg
To be very expensive.
"That designer handbag cost an arm and a leg!"
cost of living
The level of prices relating to a range of everyday items, such as food, housing, and transport.
"The rising cost of living is causing financial hardship for many families."
From Old French *coster* (to cost), ultimately from Latin *constare* (to stand firm, cost), from *con-* (together) + *stare* (to stand).
The word 'cost' has been used since the 13th century, originally meaning 'to pay a price'. The verb 'costing' emerged later with the process of figuring out the price.
Memory tip
Think of 'cost' and add the action 'ing' to show the process of finding the price.
Word Origin
"to stand firm; to cost"