Daffodil International University

Faculties and Departments => Business & Entrepreneurship => Topic started by: Repon on July 08, 2015, 01:51:01 PM

Title: Difference between cost and price.
Post by: Repon on July 08, 2015, 01:51:01 PM

What is the difference between cost and price?

Some people use cost and price interchangeably. Others use the term cost to mean one component of a product's selling price. Even the same person might use the terms differently.

For example, in standard costing the price variance of the raw materials refers to the difference between the standard cost and the actual cost of the materials.

In other situations we define a product's selling price as: product costs + expenses + profit.

As these two examples indicate, there can be different meanings for the terms cost and price.

Title: Re: Difference between cost and price.
Post by: mominur on July 08, 2015, 02:35:46 PM

Nice post...

Title: Re: Difference between cost and price.
Post by: asitrony on July 08, 2015, 05:22:59 PM

Very good topic sir!

Thanks for sharing ...

Title: Re: Difference between cost and price.
Post by: kamruzzaman.bba on July 09, 2015, 11:36:31 AM

Thanks :)

Title: Re: Difference between cost and price.
Post by: Repon on July 09, 2015, 12:53:35 PM

Thank you all for your inspiring comments!