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Alternative Costing Principles (Lifecycle Costing (Introduction, Growth,…
Alternative Costing Principles
Activity Based Costing
Cost drivers
Cost pool
Total Quality Management
Principles
Get it more right next time
Get things right 1st time
cost of preventing < cost of correcting
Cost of quality
Cost of conformance
Prevention
Appraisal
Cost of non-conformance
Internal failure
External failure
Target Costing
Target Costing
subtracting a desired profit margin from a competitive market price
Target Cost
determined by subtracting a desired profit margin from a competitive market price
COST GAP is supposed to get smaller until maturity stage
Target cost = target selling price - target profit
Cost Gap = estimated cost - target cost
Lifecycle Costing
Introduction
Growth
Maturity
Decline