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sertanlavr [38]
3 years ago
13

Why is cost price important in price determination?​

Business
2 answers:
wlad13 [49]3 years ago
6 0

Answer:

The cost price is the price you buy a product for. You need to compare the cost price to the selling price to know whether you got a profit or loss (did you make money or did you not).

If you don't know the cost price, you don't know whether you have a profit or loss. Of course everyone wants a profit (make money) so to determine a selling price the cost price is important.

wolverine [178]3 years ago
3 0

answer

The most important factor affecting the price of a product is its cost. ADVERTISEMENTS: Product cost refers to the total of fixed costs, variable costs and semi variable costs incurred during the production, distribution and selling of the product. ... The price for a commodity is determined on the basis of the total cost.

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Answer:

True

Explanation:

The whole purpose of developing a strategy is to create unique and valuable market position, but f there was only one good market position, then every company would just try to reach that position. Through their own particular strategy, each company must try to differentiate themselves from the competition and hopefully reach the intended market position.

3 0
3 years ago
A product enhancement is equivalent to
Step2247 [10]

<u>Answer:</u> Upsell

<u>Explanation:</u>

Product enhancement means adding any additional features or functions to the existing products. The product managers keep adding these features to increase the market share of the product sold. It is also a marketing technique used by the companies to prove their products better than the competitors products.

By following product enhancement strategy the company tries to upsell the products. It protects the product from being out of the market and also increases the product's capability. The usability and performance of the product also increases.

8 0
3 years ago
Norbert Inc. delivered goods and services during December. Payment is expected during the first week of January. The related adj
Vsevolod [243]

Answer:

The correct word for the blank spaces are: asset; revenue.

Explanation:

By delivering goods expecting payment at a later date, Norbert Inc. is increasing its <em>accounts receivable</em>. This type of profit takes place when goods or services are provided in credit and the payment is set in the future. In the example, according to the Generally Accepted Accounting Principles (GAAP), the <em>accounts receivable must be debited to an asset account and credited to a revenue account</em>.

8 0
3 years ago
Dake Corporation's relevant range of activity is 3,200 units to 8,000 units. When it produces and sells 5,600 units, its average
castortr0y [4]

Answer:

the direct manufacturing cost is $46,230

Explanation:

The computation of the direct manufacturing cost is given below;

= (direct material per unit + direct labor per unit) × number of units produced

= ($6.55 + $3.50) × 4,600 units

= $46,230

hence, the direct manufacturing cost is $46,230

This is the answer but the same is not provided in the given options

The same should be considered

8 0
3 years ago
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enot [183]

A credit report could be a outline of however you have got handled credit accounts, as well as the categories of accounts and your payment history, also as sure alternative info that is reported to credit bureaus by your lenders and creditors.

Your credit report contains personal info, open-end credit history, credit inquiries and public records. This info is reported by your lenders and creditors to the credit

4 0
2 years ago
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