Cost plus pricing Study guides, Revision notes & Summaries

Financial Accounting provides information used primarily by investors, creditors, and others outside a business Managerial Accounting information used by executives, managers, and employees who work inside the business GAAP generally accepted accounting principles Balance Sheet asset + liability = equity at a specific point in time Income Statement revenues - expenses = net income over a specific accounting period Statement of Cash Flow cash flow from ope...

Cost or Pricing Data All facts that, as of the date of price agreement or an earlier date agreed upon between the parties, prudent buyers and sellers would reasonably expect to affect price negotiations significantly. Cost or pricing data are factual, not judgmental, and are verifiable. While they do not indicate the accuracy of the prospective contractor's judgment about estimated future costs or projections, they do include the data forming the basis for that judgment. Cost or pricing da...

Price or Cost Data : Cost or pricing data are factual, not judgmental, and are verifiable. While they do not indicate the accuracy of the prospective contractor"s judgment about estimated future costs or projections, they do include the data forming the basis for that judgment. Cost or pricing data are more than historical accounting data; they are all the facts that can be reasonably expected to contribute to the soundness of estimates of future costs and to the validity of determin...

HFMA CHFP MODULE 1 Business of Healthcare COMPLETE EXAM 2024 with Verified Answers Graded A+. 1. A hospital is planning to expand its services by adding a new wing with 50 beds and a state-of-the-art diagnostic center. The hospital has conducted a market analysis and projected the demand and revenue for the new services. The hospital also has estimated the capital and operating costs of the expansion project. What is the next step in the financial strategic planning process for the hospita...

Skimming Pricing Answer -Firm introduces a new or innovative product and sets the highest initial price that customers who really desire the product are willing to pay. -Customers are not very price sensitive -Prices are lowered once they are satisfied to attract new customers Penetration Pricing Answer Set low initial price on new product for immediate appeal to the mass market Target Pricing Answer Manufacturer deliberately adjusts the features of a product to achieve this Pricing...

CPSM Diagnostic Exam Questions With 100% Correct Answers Latest Update 2024/2025 (Graded A+) Which of the following should have the MOST influence in determining end product specifications, so as to minimize the potential for returns? (A) Marketing (B) Supply management (C) Engineering (D) Manufacturing - Answer (A) Marketing When developing specifications, a buyer may consider information from which of the following? I. Suppliers II. Industry Standards III. Professional Organizations ...

why is getting pricing right critical to a company's success? correct answers the right price will boost profit faster than increasing volume can what is cost-plus pricing? correct answers evaluating all of the variable costs and then adding a markup percentage for the price what are the reasons cost-plus pricing is so popular? correct answers easier to communicate to the customer why price changes are made provides full coverage of costs how do you calculate margin? correct answers...

What are the 3+1 stages of absorption costing? 1. Allocation 2. Apportionment 3. Absorption = Production Cost 4. Under/over = Non prod OH Why would you use Absorption Costing? Valuing Inventory Pricing Decisions Establishing profitability What are pros and cons of absorption and marginal costing? Absorption -Avoids varying profits if sales are seasonal -Consistent with accounting standards -Recognises Long Run variable costs -Implies OH related to production = Manipulate profit ...

ETA CPP EXAM TEST BANK 2023/2024 NEW QUESTIONS AND ANSWERS A+. NABU, APF and FANF - ANSWER MasterCard implemented a new fee, the Network Access and Brand Usage fee (NABU). And following right on the heels of the MasterCard announcement, on July 1, 2009 Visa implemented their U.S. Acquirer Processing Fee (APF). Card brand dues and assessments - ANSWER In addition to Interchange, each card brand includes additional fees based on the transaction amount and per transaction. These fees are call...

What is a price? : The amount of money charged for a product or service. What is value-based pricing? : Price is considered along with other marketing mix variables before the marketing program is set What are the steps in (customer) value-based pricing? : 1. Assess customer needs and value perceptions 2. Set target price to match customer perceived value 3. Determine the costs that can be incurred 4. Design product to deliver value at target price What is cost-based pricing? : Setti...