The cost which the organization incurs the production and acquisition of products and services which it intends to sell is very important. The pricing strategy of the organization is significantly affected by costs. Therefore, costs designed to tackle the challenges of the economic and the noneconomic factors very efficiently. The objective of the costing models is to categorize the factors of the marketing objectives of the company and the mission of the company (Gitman, 2003).
Accurately determination of cost is important in organization to remain profitable. Costing does not only require including direct and indirect cost associated with business ...
