There Are at Least Three Different Methods to Estimate Costs

question 71

Short Answer

There are at least three different methods to estimate costs.These methods are the _______________,_______________,and _______________methods.

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Definitions:

Total Profits

The final amount of income a business makes after accounting for all costs, expenses, and taxes.

Capacity Utilization

The percentage of a company's total production capacity that is currently being used.

Customer Preferences

Individual likes or dislikes influencing purchasing decisions, varying greatly among consumers.

Quantification

The process of measuring, calculating, or assigning a numerical value to something.