Cost Accounting Models for Pricing

Abstract

Price has a variety of meanings according to the context. While buying a mobile anyone can ask "How much does it cost?" Here the word cost means the price. In the Oxford Dictionary the definition of the noun 'price' is the cost released or sacrificed of something in value. But in management technology, price of a product is not necessarily the same as cost. There are many factors which affect the price of a product, which may be cost or non-cost factor. The former may be cost or non-cost factor.