17 March 2011
PLS. TELL ME WHAT IS MEAN BY PRODUCT COSTING & GIVE ME SOME OF EXAMPLE
Guest
Guest
(Expert)
17 March 2011
Product costing is the process of tracking and studying all the various expenses that are accrued in the production and sale of a product, from raw materials purchases to expenses associated with transporting the final product to retail establishments.
The pricing of products depends notably on the competition in the market. In a weakly competed market, such as a closed market, the sales price can be calculated as follows:
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