The target costing approach was developed in recognition of two important characteristics of markets and costs. First, many companies have less control over price than they like to think. Second, most of a product's cost is determined when it is designed.

Question

Quizplus · Accepted Answer

The statement correctly describes the two important characteristics of markets and costs that led to the development of the target costing approach.

The Target Costing Approach Was Developed in Recognition of Two