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John Moffat.
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aakarsh715
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Why lifecycle costing doesnt help in setting price of a product? According to bpp book, life cycle costing is not concerned with setting price of a product. But can’t we set price by analysing total lifecycle costs of a product. Why is it incorrect?
John Moffat
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I don’t have the BPP Study Text so I cannot see the context in which they wrote what you say.
The main focus of life-cycle costing is obviously to determine the costs. However the costs can certainly be useful in helping to determine a selling price (but is not the only factor involved in deciding a selling price, as explained in my free lectures).
aakarsh715
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