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What is the definition of 'full cost basis'?
The price paid to acquire, produce, accomplish or maintain anything (usually measured in money)
What is the definition of Historical Cost?
what is the definition of historical cost
Can direct cost be indirect cost?
The Answer is NO. Direct costs are direct cost which can be clearly/economicaly identified with the cost object, indirect costs cannot be traced to a specific cost object, based on the definition direct cos cant be an indirect cost (Misdhaaque Ahmed)
How do you get a cost price and a markup if you know the selling price and profit?
Selling price less profit equals cost price. The markup is the profit plus cost price.
What role of cost accounting in manufacturing organization?
cost accounting plays very important role in manufacturing organisation.unless cost accounting system one can't get the cost of the product appropriately.Many organisations fix their selling price based on the cost information.Not only in ascertaining cost of the product it can be used as measurement for their performance
What is the definition of insurance premium?
The price or cost of the coverage purchased.
What the definition of the cost?
Cost -the price paid to acquire, produce, accomplish, or maintain anything: www.dictionary.com
What is the definition of cost efficiency?
cost efficiency is how good what you paid for was for the price you paid for it. it pretty much rates the quality and the price as a comparison in one.
What is the definition of profit and loss in mathematics?
Profit:If the selling price(S.P.)of an article is greater than the cost price(C.P.), the difference between the selling price and cost price is called a profit. loss:If the selling price (S.P.) of an article is less than the cost price(C.P.),the difference between the cost price and selling price is called loss.
What's the difference between markup and margin when it comes to pricing products or services?
Markup is the amount added to the cost price to determine the selling price, expressed as a percentage of the cost price. Margin, on the other hand, is the percentage of the selling price that represents the profit made on a product or service. In simpler terms, markup is calculated based on the cost price, while margin is calculated based on the selling price.
The major difference between the Consumer Price Index and the Producer Price Index is that?
The PPI is based on the cost of a basket typically purchased by producers, while the CPI is based on the cost of a basket typically purchased by consumers.
What is the correct formula when markup is based on selling price?
The correct formula when markup is based on the selling price is selling price is equal to the markup plus the cost. This enables traders make profits.
How do you calculate the difference between margin and markup in pricing strategies?
To calculate the difference between margin and markup in pricing strategies, you can use the following formulas: Margin (Selling Price - Cost) / Selling Price Markup (Selling Price - Cost) / Cost Margin represents the percentage of the selling price that is profit, while markup represents the percentage of the cost that is profit. The key difference is that margin is calculated based on the selling price, while markup is calculated based on the cost.
How much were the cost of diapers in 1985?
The price of diapers in 1985 varied based on brand, count size and if an item was bought in bulk. The cost ranged from $8 to $20+ based on the above, this price does not include a mobile diaper service.
Is Mark-up based on selling price?
Mark-up is setting your selling price a certain % higher than your production cost. So, it's probably more accurate to say that it is based on production cost. For instance, a 10% mark-up would establish a selling price that is 10% higher than your cost of production.
Definition of geographical pricing?
Geographical pricing is evident where there are variations in price in different part of the world.Like for Example rarity value, or where is shipping cost increase price
What is the differences between cost-based pricing or market-based pricing?
Cost based pricing uses the costs that were invested in producing the goods. In market based pricing, supply and demand are the key factors that determine price.
