Please help me in nswering this question
they diffrent methods
Target costing is when you have a goal for the project and its costs. Absorption costing is when you need to fix the excess spending.
Standard costing will be the price for something. Mostly in every store. The target costing is when one says what one is willing to pay and they can negotiate the cost.
definition of target costing
for backflush costing and target costing?" Refer this link www.iugaza.edu.ps/users/shelles/Horngren/ch14.ppt
In Target costing system, comapnies tries to achieve target prices by reducing those parts of activity which are not increasing the value of product. Life cycle costing is a concept in which companies tries to read the overall process of development of product life cycle and tries to minimise the cost at area where it is not required or not increase the value of product.
Job Order Costing Operation Costing Normal Costing Actual Costing Standard Costing Kaizen Costing Target Cost
process costin and target costing
Activity based Costing, Target costing, Just in Time,Total Quality Management,
Target Costing: It is the costing process in which company tries to reduces all costs of product to limit the selling price at specific targeted selling price. Cost Plus pricing: It is pricing method in which company uses all costs plus certain percentage of that cost as a profit margin to set selling price.
Target costing refers to the design of a product and the processes used to produce it , so the ultimately the product can be manufactured at a cost that will enable the firm to make a profit when product is sold
Standard costing is a set target where it is used as a goal to monitor progress