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  2. Cost reduction - Wikipedia

    en.wikipedia.org/wiki/Cost_reduction

    Cost reduction is the process used by organisations aiming to reduce their costs and increase their profits, or to accommodate reduced income. Depending on a company’s services or products , the strategies can vary.

  3. Target costing - Wikipedia

    en.wikipedia.org/wiki/Target_costing

    Target costing is defined as "a disciplined process for determining and achieving a full-stream cost at which a proposed product with specified functionality, performance, and quality must be produced in order to generate the desired profitability at the product’s anticipated selling price over a specified period of time in the future."

  4. Cost accounting - Wikipedia

    en.wikipedia.org/wiki/Cost_accounting

    Standard Costing is a technique of Cost Accounting to compare the actual costs with standard costs (that are pre-defined) with the help of Variance Analysis. It is used to understand the variations of product costs in manufacturing. [6] Standard costing allocates fixed costs incurred in an accounting period to the goods produced during that period.

  5. Cost breakdown analysis - Wikipedia

    en.wikipedia.org/wiki/Cost_breakdown_analysis

    In business economics cost breakdown analysis is a method of cost analysis, which itemizes the cost of a certain product or service into its various components, the so-called cost drivers. The cost breakdown analysis is a popular cost reduction strategy and a viable opportunity for businesses.

  6. Activity-based costing - Wikipedia

    en.wikipedia.org/wiki/Activity-based_costing

    The cost driver is a factor that creates or drives the cost of the activity. For example, the cost of the activity of bank tellers can be ascribed to each product by measuring how long each product's transactions (cost driver) take at the counter and then by measuring the number of each type of transaction.

  7. Kaizen costing - Wikipedia

    en.wikipedia.org/wiki/Kaizen_costing

    Kaizen costing is a cost reduction system used a product's design has been completed and it is in production. [1] Business professor Yasuhiro Monden [2] defines kaizen costing as . The maintenance of present cost levels for products currently being manufactured via systematic efforts to achieve the desired cost level. [citation needed]

  8. Semi-variable cost - Wikipedia

    en.wikipedia.org/wiki/Semi-variable_cost

    In the simplest case, where cost is linear in output, the equation for the total semi-variable cost is as follows: [6] Y = a + b X {\displaystyle Y=a+bX} where Y {\displaystyle Y} is the total cost, a {\displaystyle a} is the fixed cost, b {\displaystyle b} is the variable cost per unit, and X {\displaystyle X} is the number of units (i.e. the ...

  9. Job costing - Wikipedia

    en.wikipedia.org/wiki/Job_costing

    Job costing (known by some as job order costing) is fundamental to managerial accounting. It differs from Process costing in that the flow of costs is tracked by job or batch instead of by process. job cost is done for one single product The distinction between job costing and process costing hinges on the nature of the product and, therefore, on the type of production process: