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Target costing question

Forums › CIMA Forums › Target costing question

  • This topic has 3 replies, 2 voices, and was last updated 4 years ago by Cath.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • October 22, 2020 at 7:51 pm #591137
    haleemahs
    Member
    • Topics: 2
    • Replies: 1
    • ☆

    if the selling price is said to be £100 with a desired margin of 20% and the production cost is £20, what is the target cost?

    i would have assumed you ignore production cost thus target cost should be £80?

    November 1, 2020 at 11:31 pm #593781
    Cath
    Participant
    • Topics: 0
    • Replies: 448
    • ☆☆☆

    Hi there, yes I agree with you.
    We start with the selling price of $100
    If we are told that the margin needs to be 20% then the target cost will be $80

    Because
    Cost $80 * 1/1-0.2 = 100

    Hope thats ok?
    Cath

    November 24, 2020 at 7:54 pm #596331
    haleemahs
    Member
    • Topics: 2
    • Replies: 1
    • ☆

    perfect, Thank you Cath.

    December 3, 2020 at 9:34 pm #597560
    Cath
    Participant
    • Topics: 0
    • Replies: 448
    • ☆☆☆

    You are welcome

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