The following four tasks take place in the concept known as target costing.i.Value engineering
Ii)Establish a target price
Iii)Establish a target cost
Iv)Establish a target profit
Which of the following correctly depicts the sequence of these tasks?

Question

Quizplus · Accepted Answer

The correct sequence in target costing is to first establish a target price, then establish a target profit, followed by establishing a target cost, and finally, perform value engineering to meet the target cost.

The Following Four Tasks Take Place in the Concept Known