What does target costing mean?
Definitions for target costing
tar·get cost·ing
Here are all the possible meanings and translations of the word target costing.
Freebase
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, 2022. Web. 25 May 2022. <https://www.definitions.net/definition/target+costing>.
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