[ˈvælju ˈædəd wɜrk]
Definition: is the difference between the price of the product sold by the company (or any services), materials spent on production and revenue. This is additionally added value in the process of finalizing, processing and marketing the product. The more stages of processing and refinement the goods pass, the more value is added to it. Value added work can be understood as a category of public, private and individual division of labor, under which the product or service provided is the product of many manufacturers. Quantitatively it is calculated as the difference between sales revenue and the cost of all raw materials, materials, components and services that the company paid for the production of goods.
Synonyms and related words: output of products, increase in profits
Value added work in a sentence:
- Value-added work is the category of public, private and individual division of labor in which the product or service provided is the product of many manufacturers.
- Value-added work includes the equivalent of costs for profit, salary, rent, interest on capital.
