Lecture # 10
Costing and Pricing
Costing and pricing
they are both different
Costing means manufacturing of a product
While pricing is the amount pay by the customer for that product
It is basically expense of selling any product or service
General Methods of Costing
Input based costing
this method include the estimation required to satisfy the performance obligation
Product has a social impact on society
Price competition
Price competition is one of many ways that a product or service can compete in the marketplace.
my project is E- Grocery
Costing Competition
a product or service that is cost competitive is cheap compared to other similar products, or services
It's costing and pricing should be different
Costing plus profit = Pricing plus taxes
Pricing of my project
I would focus on costing instead of pricing because my project has social impact
services range from 300rs to 500rs
Two types of product impact
Positive
Negative
In next class report making will be discussed
Content of report
Per unit cost