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2010•RePEc: Research Papers in EconomicsOpen access

USING TARGET COST IN DETERMINING PRICE

Aurelian Ionut Ceausescu, Cecilia Elena Văduva

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Abstract

The target cost method was designed as a comprehensive set of tools for cost planning, cost management and cost control. This method is based on the idea that the selling price of a product is fixed at the market. Price does not therefore depend on cost. Target costing method is not only a method for calculating the costs, but also a method which uses modern management techniques on the study assessed the market value analysis, reducing the diversity of technology, manufacturing, partnership suppliers.

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The target cost method was designed as a comprehensive set of tools for cost planning, cost management and cost control. This method is based on the idea that the selling price of a product is fixed at the market. Price does not therefore depend on cost. Target costing method is not only a method for calculating the costs, but also a method which uses modern management techniques on the study assessed the market value analysis, reducing the diversity of technology, manufacturing, partnership suppliers.

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Available abstract

The target cost method was designed as a comprehensive set of tools for cost planning, cost management and cost control. This method is based on the idea that the selling price of a product is fixed at the market. Price does not therefore depend on cost. Target costing method is not only a method for calculating the costs, but also a method which uses modern management techniques on the study assessed the market value analysis, reducing the diversity of technology, manufacturing, partnership suppliers.

Key concepts: Target costing, Activity-based costing, Product cost management, Cost accounting, Total absorption costing, Product (mathematics), General partnership, Fixed cost

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