Match the definitions to the two generic strategies. is an organization's ability to achieve lower costs relative to competitors through productivity and efficiency improvements, elimination of waste, and tight cost control. is an organization's ability to offer products or services perceived by its customers to be superior and unique relative to the products or services of its competitors.

Q: What type of cost drivers do modern costing systems use and how does it differ from the cost drivers…

A: Cost Driver Business activities are  influenced by a cost driver . Cost drivers are the factors…

Q: synthesis of contemporary key costing?

A: Costing refers to the process of determining the cost of a product or service

Q: how activity based costing has been discovered?

A: Activity-based costing, often known as ABC, is a way of allocating overhead and indirect expenses to…

Q: how Cost Managemnt decision-making plays a role in the decision-making and success of the company?

A: Cost management decision-making is a critical aspect of any business. It involves the process of…

Q: Critically evaluate the concept and application of marginal costing

A: Concept of marginal costing: Marginal cost is the difference between total costs increasing or…

Q: Discuss the disadvantages of Absorption Costing for cost control and performance evaluation.

A: Absorption Costing: Absorption costing is a method for calculating the full cost or total cost of a…

Q: evaluation of and synthesis of key costing techniques

A: Costing techniques are important tools used by businesses to analyze and control their costs.

Q: w product cost information is use

A: Product Cost: Product costs are costs that are incurred to make a product that's intended available…

Q: Briefly explain how product costs are viewed on a flow-of-activity basis.

A: Product costs on a flow-of-activity basis involve looking at the costs associated with the…

Q: Estimating costs requires information • analysis, interpretation, decision-making • measurement,…

A: Estimating costs requires information • analysis, interpretation, decision-making • measurement,…

Q: ivity analysis, and how is it used with cost driver analysis to manage costs and increase profits?…

A: An organization might use activity analysis as a management tool to recognize and comprehend the…

Q: Evaluate cost factors influencing a company's decision.

A: Cost factor is the factor or an element which is related to unit of product for which some amount of…

Q: explain the difference between target costing, skimming costing, and penetration costing

A: Pricing decisions is one of the most important and required decision for the management. Pricing…

Q: Critically evaluate the concept and application of marginal costing

A: Marginal Costing :— Marginal Costing is the Part of Cost management Techniques.  Marginal Costing…

Q: Explain the purpose of product costing.

A: Product costing: The process of assigning the production costs to all output of the organization is…

Q: Define target full product cost.

A: Target full product cost:    Target cost is the maximum cost of a product that can be incurred and…

Q: Cost-volume-profit analysis is used to make many decisions, including product pricing and…

A: The cost volume profit analysis is used to assess how the firm’s profit is affected if there is a…