_____ is the process of analyzing each individual cost element (i.e., material, labor hours and rates, overhead, general and administrative costs, and profit) that together add up to the final price.

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Cost analysis involves analyzing each individual cost element that makes up the final price, whereas price analysis simply compares the proposed price to other prices in the market. Target costing focuses on setting a target cost for a product before it is produced, while total cost analysis includes all costs associated with a product or service, not just the individual cost elements. Make-buy analysis is a process for deciding whether to make a component or product in-house or buy it from an outside supplier.

_____ Is the Process of Analyzing Each Individual Cost Element