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Cost and price

gaddala ramesh (163 Points)

30 July 2023

Dear experts,

please explain what is the difference between cost and price

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3 Replies

Nikita Agarwal (Semi Qualified CA) (3208 Points)
Replied 30 July 2023

Cost is expense to produce a product while price is the amount customers pay to acquire it

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 31 July 2023

Cost is the amount which is incurred to produce a product by the company basically it's the cost to purchase raw materials, etc. whereas price is the sale price charged to customers to buy

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sabyasachi mukherjee (26229 Points)
Replied 03 August 2023

Prime cost plus factory overhead plus admin overhead plus selling cost and marketing cost .
plus Mark up
selling price

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