Define special pricing.

Q: Cost-Savings Sharing Pricing Defined?

A: It is a project pricing technique where the savings in the cost of the project are mutually shared…

Q: Define product cost with an example?

A: Cost: Cost refers to the expenses incurred by the business to earn revenue from sales, in other…

Q: Define the term price-takers.

A: Price takers is the term used for individual or a company which cannot influence the price of a…

Q: Explain the difference between price-takers and price-setters.

A: When a company cannot dictate prices then it is known as price taker. On the contrary, when a…

Q: What is cost-plus pricing? Who uses it?

A:

Q: What is a price standard?

A: Variance: Variance refers to the difference level in the actual cost incurred and standard cost. The…

Q: Define pricing decisions.

A: Selling Price:   It refers to the price at which the product or service will be sold in the market…

Q: When should special pricing orders be accepted?

A: Special pricing order: A special order is a unique one time order made by a customer. In this order…

Q: How is activity-based costing useful for pricing decisions?

A: Pricing Decisions:Pricing decisions are those decisions that are related to ascertain the price of a…

Q: Explanation of the meaning of the target costing ?

A: Cost accounting system is a framework that guides the firm to calculate their cost and helps in…

Q: What is a cost driver?

A: A cost driver is a concept used in management accounting. The cost of specific business operations…

Q: Distinguish between market-skimming pricing and market-penetration pricing.

A: Product pricing strategies: There are two product pricing strategies of a company. They are,…

Q: What Is Prerequisites for Successful Target and Cost-Based Pricing?

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Determining the best approach to pricing requires a cost-benefit trade-off. Explain.

A: The best approach to pricing requires the cost benefit trade-off is explained as below, The Best…

Q: Describe three alternatives of cost-plus pricing methods?

A: Cost-plus pricing is a method in which the selling price is set by evaluating all variable costs a…

Q: Define cost-allocation base?

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: What is simple costing system? Explain?

A: Costing system: Costing system is a process used to determine the cost of the product for better…

Q: Write the general formula for cost-plus pricing, and briefly explain its use.

A: Cost-plus pricing: It can be defined as the pricing strategy which includes the determination of the…

Q: What are the advantages and disadvantages of target pricing versus cost-based pricing?

A: Advantages of target pricing are as follows: It help in controlling in cost It provide profit with…

Q: Define the term pricing decisions.

A: Selling Price:   It refers to the price at which the product or service will be sold in the market…

Q: What is target pricing? Who uses it?

A: Target pricing: A pricing method which is used to identify the price at which the product will be…

Q: Describe the following approaches to pricing new products: skimming pricing, penetration pricing,…

A: Pricing decisions:   Pricing decisions is one of the most important and required decision for the…

Q: Define prime costs?

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Describe the uses of target pricing.

A: Target pricing: A pricing method which is used to identify the price at which the product will be…

Q: Discuss the difference between the revaluation model and cost model in detail.

A: Revaluation model and cost model are two different models of subsequent measurement of invested…

Q: Explain the impact of the cost-volume-profit connection on pricing strategy.

A: The cost volume profit analysis analyse the impact of the variable cost and fixed cost on the…

Q: Define conversion price

A: Introduction: The conversion price is stated when the security is delivered. In case of a…

Q: What is importants of Price and quality?

A: Price plays an important role for buyers and sellers both because the seller wants to charge a high…

Q: What is the quantity decision? The pricing decision?

A:

Q: Define the term product pricing.

A: Managerial accounting:   Managerial accounting is more focused towards analyzing information and…

Q: Explain quantity discount

A: Introduction: A quantity discount is an inducement obtainable to a purchaser that fallouts in a…

Q: Explain price/EBITDA ratio

A: The EV/EBITDA ratio compares a company's enterprise value to its earnings before interest, taxes,…

Q: Define the term price-setters.

A: When a company cannot dictate prices then it is known as price taker. On the contrary, when a…

Q: Describe the term target costing.

A: Target costing: Target costing is a business procedure that targets at the earliest stages of new…

Q: Distinguish between standard costing and Budgeting.

A: The main difference is that standard costing is a unit concept in which standards are set for all…

Q: Describe the Define the term Benefit-Cost Ratio?

A: Cost benefit analysis is a quantitative approach used by top level management to evaluate the…