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What is Target Costing for Profitable Products about?

The document discusses target costing, which is a technique used by companies to strategically manage future profits by estimating the anticipated selling price of a new product, subtracting the desired profit margin to establish a target cost, and then designing the product to be manufactured at or below the target cost. The process of target costing involves three sections: 1) determining the target selling price and allowable cost based on customer and market analysis, 2) setting achievable product-level

Author

Gaurav Keswani

Language

EN