_____ 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 is the process of analyzing each individual cost element that contributes to the final price of a product or service. This helps in identifying any areas where cost-cutting measures can be applied, and in determining an appropriate selling price. Price analysis, on the other hand, involves comparing the price of a product or service to similar products or services available in the market. Total cost analysis is a general term that encompasses both cost analysis and price analysis. General and administrative costs are typically included as part of overhead costs. Make-buy analysis involves comparing the costs of producing a product or service in-house versus outsourcing it to a third-party vendor.

_____ Is the Process of Analyzing Each Individual Cost Element