Pricing of Services

question 107

Multiple Choice

Pricing of services

• A)requires the same approach as pricing of products.
• B)uses a markup percentage to add the cost of overhead to the direct costs of labor,materials,and parts.
• C)always requires three pricing computations,one for materials,one for parts,and one for labor.
• D)is less accurate than pricing of products.

---

Definitions:

Incorporate

Refers to the process of legally declaring a company as a separate entity from its owners.

Staff Planners

Professionals or tools focused on optimizing workforce distribution to ensure that the right number of employees with the right skills are in the right place at the right time.

Major Components

The primary or most important parts that make up a system, structure, or entity.

Benchmarking

The practice of comparing business processes and performance metrics to industry bests and best practices from other companies.