What is a difference between job order costing, batch costing and process costing?

Q: You have identified 4 possible ways of meeting demand for your products. Option Fixed Cost…

A: Total cost = Total Fixed cost + (Total variable cost * number of units produced) Total cost means…

Q: What are the revenue streams of a manufacturer? Cite the possible means by which a manufacturer can…

A: A manufacturer is a person or organization that converts unprocessed materials into finished goods…

Q: Explain a number of different software purchasing choices, including downloadable and web-based…

A: Purchasing software can be a complex process, particularly for enterprises and organisations. Before…

Q: ILLUSTRATE THE VARIOUS COST CLASSIFICATIONS. (PLEASE INCLUDE PHOTOS OR TEXT FOR THE EXPLANATION)…

A: Cost can be understood as the price which is being paid for acquiring a specific resource such as…

Q: Explain how to sell your product with a price strategy and with a value-added and give short…

A: Pricing is one of the most important element of marketing strategy. It needs an in-depth research by…

Q: What are the main distinctions between project work and general work?Many environments for…

A: Project Work is defined as work that needs to be completed with a limited time. It involves various…

Q: Notably, procurement is associated with one of the management systems within the executing process…

A: Appropriation is one of the most important issues in the course of a process because it reduces the…

Q: how an effective purchasing department can affect the organizational performance of a large…

A: The performance of an organization is dependent upon the actual output of an organization. The…

Q: You are on a team designing a new hybrid SUV. Describe how each costing method might be applied.…

A: The technique, style, or tactic used by an organization to collect cost data more appropriately is…

Q: Find an example of another good or service that is priced like automobiles or airline seats and…

A: Price is the monetary value that a customer is supposed to pay in exchange for buying a product or…

Q: What is the main objective of a Cost Competitive Advantage?

A: Company is a legal entity created under law having its own rights and responsibilities. A company is…

Q: With an overall cost of goods totaling $64,000 and sales of $181,000, what is the food cost…

A: Food cost percentage is a proportionate measurement between total inventory cost and  total sales.…

Q: Costing your product- Definition of types of costs Define the following types of costs and give at…

A: A cost is the amount of money that has been used up to manufacture anything or provide a service and…

Q: Describe activity-based costing, the steps in developing an ABC system, and thebenefits of an ABC…

A: ABC analysis stands for Activity-based-costing. It follows the Pareto principle 80/20 of vital few…

Q: When it comes to selecting a provider, the price and product samples are good, but are they enough?

A: A company expects the right provider to satisfy its needs and specifications so that it can provide…

Q: Use an example to describe the procurement cycle of a company (cycle among User department,…

A: Procurement Process:                 Procurement process contains the series of actions to collect…

Q: How can a  purchasing department influence the financial performance of a large manufacturer or a…

A: For any capacity to be effective, it should build up clear and quantifiable destinations, and work…

Q: discuss purchasing profile analysis

A: Purchasing analysis is the analysis of what is going on in the purchase department as the…

Q: What are the advantages of sending price change orders ahead of time

A: The companies should decide the price of their product or service according to their target market.…

Q: What is your perspective of a Balanced Scorecard? Do you see the value to an organization this…

A: Performance Measurement It is a critical process for estimating and overseeing performance in a…

Q: How does the purchasing process work?

A: Supply chain management is the management that supervises and manages the whole supply chain process…

Q: How you will implement the concept of Life cycle costing in the construction Industry? Justify your…

A: Project organization is formed when the project size is big and has high standards of performance.…

Q: How do you think a procurement policy should be related to an organization's long-term strategy and…

A: Both supply chains include sourcing or procurement.

Q: How can you define “demand management?” How is the demand pattern is determined? What are the main…

A: Organizing, directing, controlling, and planning resources that include people, money, and materials…

Customary Pricing

There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows: 

Multiple Unit Pricing

“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”