Various costing parameters

Question

Accepted Answer

Costing parameters are factors that influence the overall cost of a product or service.

Costing parameters include direct costs such as materials and labor, as well as indirect costs like overhead and administrative expenses.
Other parameters may include transportation costs, taxes, tariffs, and exchange rates.
Costing parameters can vary depending on the industry and the specific product or service being analyzed.
For example, in manufacturing, parameters like machine maintenance costs and energy consumption may be considered.
In the construction industry, parameters like equipment rental costs and subcontractor fees may be important.
Analyzing and understanding these costing parameters is crucial for accurate pricing, budgeting, and profitability analysis.

Accepted Answer

the price paid or required for acquiring, producing, or maintaining something, usually measured in money, time, or energy

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