From a Seller's perspective: Price is what you sell something for, cost is what you paid for it or what it cost to produce it. The difference is referred to as margin or gross profit.
From a Buyer's perspective: Price is what you initially pay for an item. Cost is what it takes to maintain the item until it reaches Mean Time Between Failure (MTBF) also referred to as Life Expectancy (see UL rating to get MTBF). Example: Company Apurchases a surveillance system (whose DVR and Cameras have an MTBF rating of 6 years) for a price of $50,000.00. Company B purchases a surveillance system (whose DVR and Cameras have an MTBF rating of 18 years) for a price of $75,000.00. Based on the MTBF ratings Company A will have to purchase their surveillance system three times for an actual cost of $150,000.00 over the 18 years. Then you factor the time value of money on your savings for your final evaluation on Price versus Cost. Assuming a 6% interest rate over 18 years you would have a total of $75,000.00. Company A's Cost is $25,000 more (not counting the company labor to coordinate the system change) So it is important to evaluate MTBF in order to make the most economical purchase.
The word costing refers the cost incurred to manufacture the product and pricing is cost of selling the same product in the market example : if we manufacture a toy which costs 200/- and the same toy we are going to sell in the market is 500/-.this is called pricing
Price is the amount of money you pay to buy the equipment. Cost is the amount of money you pay to operate the equipment over the lifetime.
whats the difference between cost and list?
Unit Cost is what the manufacturer charges a dealer for the item. The Unit Price is what the dealer charges a customer.
value is the market price of an item cost in the expense incurred to obtain an item
The sales price includes variable cost, the cost of the unit and the markup. Sales price is the rate customers pay for the item.
the difference between Billed price and cost price is called allowance for overvaluation. head office sent goods to its branch always at billed price which is always exceed than to its cost price.
whats the difference between cost and list?
marginal cost
difference between actual cost and potential price
Real cost is the price which is real not a fake price
Profit:If the selling price(S.P.)of an article is greater than the cost price(C.P.), the difference between the selling price and cost price is called a profit. loss:If the selling price (S.P.) of an article is less than the cost price(C.P.),the difference between the cost price and selling price is called loss.
they cost the same
Profit or Loss is always calculated on the cost price.Cost price (C.P.): price on which an item is purchased.Selling price (S.P.): price on which an item is sold.Profit: If the selling price is more than the cost price, the difference between them is the profit incurred. Selling Price (SP) > Cost Price (CP) → ProfitLoss: If the selling price is less than the cost price, the difference between them is the loss incurred. Selling Price (SP) < Cost Price (CP) → Loss
Profit contribution
25001
_____ is the difference between the price of a good and the cost to make the good, on a per product basis; and, it is usually expressed as a percentage.
Unit Cost is what the manufacturer charges a dealer for the item. The Unit Price is what the dealer charges a customer.
The exact cost of attending an institute of higher education varies depending on the type of school it is. There is typically no price difference between minors and majors.