Question

3. What is Costing? ABC Company plans to sell an article at a local
market. The articles are purchased at Rs. 5 on the condition that all unsold articles shall be returned the rent for the space is rs 2,000 the articles will be sold at rs 9 determine the number which must be sold to BEP and to earn rs as profit. if, the company sells 750 articles calculate margin of safety and profit.​

Answer 1

In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost.