Target costing is a method of costing, developed by the manufacturers of Ford automobiles, that begins with the estimated price customers are willing to pay for a product, and then subtracts the desired profit to determine the cost targets that must be met.
Correct Answer:
Verified
Q1: A value chain approach to management involves
Q2: Virtual integration is the use of information
Q3: Cost-based pricing systems invariably involve pricing products
Q4: When using a cost-based price, the denominator
Q6: Target costing is generally more beneficial with
Q7: Kaizen costing is the Japanese term for
Q8: Kaizen costing is an alternative to target
Q9: Benchmarking is just a more elegant term
Q10: Benchmarking is actually just a formalized approach
Q11: Developing a value chain from the perspective
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents