accounting definition of material cost
Definition: a cost of materials or supplies used, or an aggregate of such costs. A material cost may be either a âdirect material costâ or an âindirect material costâ depending on whether it is a direct cost or an indirect cost. An alternative form of the term is âmaterials costâ. material cost may be either a âdirect material costâ or an âindirect material costâ depending on whether it is a direct cost or an indirect cost. An alternative form of the term is âmaterials costâ.