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A cost centre is a department within a business to which costs can be allocated. The term includes departments which do not produce directly but they incur costs to the business, [1] when the manager and employees of the cost centre are not accountable for the profitability and investment decisions of the business but they are responsible for some of its costs.
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A responsibility center is an organizational unit headed by a manager, who is responsible for its activities and results. [1] In responsibility accounting, revenues and cost information are collected and reported on by responsibility centers. [2] Typical examples of responsibility centers are the profit center, [3] cost center and the ...
Cost allocation is a process of providing relief to shared service organization's cost centers that provide a product or service. In turn, the associated expense is assigned to internal clients' cost centers that consume the products and services. For example, the CIO may provide all IT services within the company and assign the costs back to ...
Cost center may also refer to: Cost Sports Center, the indoor athletic facility often referred to by the same name; Cost centre (business) ...
Medication costs can be the selling price from the manufacturer, that price together with shipping, the wholesale price, the retail price, and the dispensed price. [3]The dispensed price or prescription cost is defined as a cost which the patient has to pay to get medicines or treatments which are written as directions on prescription by a prescribers. [4]
A revenue center becomes a profit center if the latter is encompassed, thus making a profit center a blend of both a cost and revenue center. [10] In a revenue center the manager usually has control over issues regarding marketing and sales. This is delegated to him because both of the spheres require extensive knowledge that is explicit to the ...
Tufts Center for the Study of Drug Development has published numerous studies estimating the cost of developing new pharmaceutical drugs. In 2001, researchers from the Center estimated that the cost of doing so was $802 million, [15] and in 2014, they released a study estimating that this amount had risen to nearly $2.6 billion. [16]