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Cost Accounting
Objectives of Target Costing
The primary objective of target costing is to enable management to use proactive cost planning, cost management, and cost reduction…
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Cost Accounting
Traditional Costing vs Target Costing
Traditionally, manufacturers would make use of the cost-plus approach to estimate the product price. A starting point for them would…
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Cost Accounting
Target costing meaning
CIMA defines target cost as “a product cost estimate derived from a competitive market price.” Target Costing is a disciplined…
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