Target costing is a method of determining the price of a product or service based on the cost that the business has to pay.

Name: Target costing is a method of determining the price of a product or service based on the cost that the business has to pay.
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Quizplus · Accepted Answer

Target costing is a pricing strategy where the selling price is determined first based on market conditions, and then the company works backward to ensure production costs allow for a desired profit margin.

Target Costing Is a Method of Determining the Price of a Product