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- Costing and pricing are two different concepts123.Costing refers to the expenses incurred when producing a product or service123.Pricing refers to the amount of money paid by a customer for a product or service123.Other differences between costing and pricing include:
- Cost is typically the expense incurred for making a product or service that is sold by a company, while price is the amount a customer is willing to pay for a product or service1.
- The same price applies to all customers or consumers, while the cost is the same for all customers2.
- Cost refers to the amount of money spent on different activities to make or maintain service or product, while price implies future acquisitions of the service or product3.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Cost is typically the expense incurred for making a product or service that is sold by a company. Price is the amount a customer is willing to pay for a product or service. The cost of producing a product has a direct impact on both the price of the product and the profit earned from its sale.
www.investopedia.com/ask/answers/101314/what-d…Here are some primary differences between cost and price: Price refers to the amount of money paid for the products or services acquired. Cost is the expenses incurred when producing the product. The same price applies to all customers or consumers. Similarly, the cost is the same for all customers.
www.indeed.com/career-advice/career-developme…Cost refers to the amount of money spent on different activities to make or maintain service or product. In contrast, Price, as told earlier, implies future acquisitions of the service or product. Both refer to the element of the money. In price, the use of money is to gain something.
www.wallstreetmojo.com/price-vs-cost/ - People also ask
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