What does target costing mean?
Definitions for target costing
tar·get cost·ing
This dictionary definitions page includes all the possible meanings, example usage and translations of the word target costing.
Wikidata
Target costing
Target costing is a pricing method used by firms. It is defined as "a cost management tool for reducing the overall cost of a product over its entire [[Product lifecycle |life-cycle] with the help of production, engineering, research and design". A target cost is the maximum amount of cost that can be incurred on a product and with it the firm can still earn the required profit margin from that product at a particular selling price. In the traditional cost-plus pricing method materials, labor and overhead costs are measured and a desired profit is added to determine the selling price.
Numerology
Chaldean Numerology
The numerical value of target costing in Chaldean Numerology is: 9
Pythagorean Numerology
The numerical value of target costing in Pythagorean Numerology is: 5
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"target costing." Definitions.net. STANDS4 LLC, 2024. Web. 16 Apr. 2024. <https://www.definitions.net/definition/target+costing>.
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