total cost
The total cost of the project includes labor, materials, and permits.
This phrase refers to the sum of all expenses involved in a project or purchase.
the sum of all expenses incurred for a product, service, or project
Before signing the contract, we reviewed the total cost to ensure it was within budget.
This shows the phrase being used in a business context to refer to all financial obligations.
The total cost of ownership includes not just the purchase price but also maintenance and operational expenses.
This highlights the comprehensive nature of the term in financial planning.
In business and finance, this phrase is often used to assess the full financial impact of a decision.
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Pro Tip
Business Context
In business, 'total cost' often includes direct and indirect expenses, such as labor, materials, and overhead.
Gold Rule
Accuracy in Financial Reports
Always ensure that 'total cost' includes all relevant expenses to avoid underestimating financial commitments.
Word Origin
Derived from the combination of 'total' (meaning 'complete') and 'cost' (meaning 'price or expense').
Usage Notes
This phrase is commonly used in financial, business, and economic contexts to refer to the sum of all expenses. It is often contrasted with partial or individual costs.