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A variation on cost-plus pricing is time-and-material pricing. Under this approach, two pricing rates are set....

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Accounting

A variation on cost-plus pricing is time-and-material pricing.Under this approach, two pricing rates are set. Explain where thisapproach is used and identify the steps involved intime-and-material pricing. Also explain what the material loadingcharge covers and how it is expressed.

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This approach of variation in costplus pricing is particularly used in case of service based industries This approach is also known as timeandmaterial pricing Under this method two types of pricing rates are used One of the rates is based on use of direct labor    See Answer
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