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What are the difficulties of target costing in the service sector?
Wiki User
∙ 14y ago
Unlikely manufacturing, service industry have the following characteristics which make cost and perfimance measurement more difficult:
SIMULTANEITY- created at the time is consumed
HETEROGENITY- qualiy\ consistency varies
INTANGIBILITY- of what is provided
PERISHABILITY - cannot make it in advance and store it up
Wiki User
∙ 14y ago
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Meaning and nature of target costing?
definition of target costing
Define process costing its types features applications?
Job Order Costing Operation Costing Normal Costing Actual Costing Standard Costing Kaizen Costing Target Cost
What activities does activity based management encompass?
ABM strategically incorporates activity analysis, activity-based costing (ABC), activity-based budgeting, life cycle and target costing, process value analysis, and value-chain analysis.
What economic question is answered the term target market?
For whom to produce a good or service.
Who is football's target market?
Are the people, they want to buy the products, or be a consumer of their company or service.
Meaning and nature of target costing?
definition of target costing
Difference between absorption costing AND target costing?
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.
Example for backflush costing and target costing?
for backflush costing and target costing?" Refer this link www.iugaza.edu.ps/users/shelles/Horngren/ch14.ppt
Define process costing its types features applications?
Job Order Costing Operation Costing Normal Costing Actual Costing Standard Costing Kaizen Costing Target Cost
Which is the best costing system for Automobile Industry?
process costin and target costing
What are the differences between standard and target costing?
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.
What a comparison and contrast between target costing and life cycle costing?
Please help me in nswering this question
What is the difference between target costing and kaizen costing?
In target costing the costs is determined by finding out how much the customers are willing to pay for the service or product. The selling price is adjusted for the profit which determines the cost at which the product or service should be produced. When the target cost is less that the actual costs then decisions needs to be made to reduce the costs. For example the remove non value adding features to the product or service. Kaizen costing involves the continuous addition of small costs to the product or service until it meets its desired level for the customer. Target costing can said to be retrospective costing whilst kaizen is prospective costing.
Contrast between target and kaizen costing?
they diffrent methods
What is the difference between target costing and life cycle costing?
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.
What are the tools and techniques of cost management?
Activity based Costing, Target costing, Just in Time,Total Quality Management,
Role of target costing?
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
