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Definitions:
Target Costing
A pricing method that involves reverse-engineering a product to meet a specific price point by targeting the total cost.
Full Cost
The complete cost of producing and delivering a product or service, including direct and indirect costs.
Profit Margin
A financial metric indicating the percentage of revenue that remains as profit after accounting for costs and expenses.
Profit Margin
A financial metric that measures the amount of net income generated as a percentage of revenue.
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