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Target Costing142

Target Costing142

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Published by Sumit Hukmani

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Published by: Sumit Hukmani on Oct 06, 2012
Copyright:Attribution Non-commercial

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05/13/2014

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1
Target Costing
If you cannot find the time to do it right,how will you find the time to do it over?
 
2
General Concept
Target cost is the cost that can be incurredwhile still earning the desired profit
Selling price
 –
desired profit = target cost
The customer sets the price
Profit must be achieved through cost control
 
3
Target Costing Characteristics
Contradicts the traditional approach: designproduct, determine cost, set price
Intense customer focus
What do they want?
How much will they pay for it?
Can we make a profit on it?
Want answers to these questions beforecommitting to the project

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