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    Costing and Pricing

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    LINDSY MAE SULA-SULA
    This document appears to be a test from a Costing and Pricing course at Southway College of Technology in the Philippines. The test contains three sections - an identification section with 40 multiple choice questions defining pricing terms, an enumeration section asking to list pricing concepts, and an essay question asking to justify whether pricing strategies can achieve pricing objectives. Some of the terms defined include price tags, credit terms, discounts, markups, fixed and variable costs, and objectives like profit maximization. Overall, the test seems to be evaluating students' understanding of fundamental pricing concepts and strategies.

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    Costing and Pricing

    Uploaded by

    LINDSY MAE SULA-SULA
    43 views2 pages
    This document appears to be a test from a Costing and Pricing course at Southway College of Technology in the Philippines. The test contains three sections - an identification section with 40 multiple choice questions defining pricing terms, an enumeration section asking to list pricing concepts, and an essay question asking to justify whether pricing strategies can achieve pricing objectives. Some of the terms defined include price tags, credit terms, discounts, markups, fixed and variable costs, and objectives like profit maximization. Overall, the test seems to be evaluating students' understanding of fundamental pricing concepts and strategies.

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    COSTING AND PRICING

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    This document appears to be a test from a Costing and Pricing course at Southway College of Technology in the Philippines. The test contains three sections - an identification section with 40 multiple choice questions defining pricing terms, an enumeration section asking to list pricing concepts, and an essay question asking to justify whether pricing strategies can achieve pricing objectives. Some of the terms defined include price tags, credit terms, discounts, markups, fixed and variable costs, and objectives like profit maximization. Overall, the test seems to be evaluating students' understanding of fundamental pricing concepts and strategies.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    43 views2 pages

    Costing and Pricing

    Uploaded by

    LINDSY MAE SULA-SULA
    This document appears to be a test from a Costing and Pricing course at Southway College of Technology in the Philippines. The test contains three sections - an identification section with 40 multiple choice questions defining pricing terms, an enumeration section asking to list pricing concepts, and an essay question asking to justify whether pricing strategies can achieve pricing objectives. Some of the terms defined include price tags, credit terms, discounts, markups, fixed and variable costs, and objectives like profit maximization. Overall, the test seems to be evaluating students' understanding of fundamental pricing concepts and strategies.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Republic of the Philippines

    DEPARTMENT OF EDUCATION
    SOUTHWAY COLLEGE OF TECHNOLOGY
    (S O C O T E C H)
    San Francisco, Agusan del Sur, Philippines
    Telefax: (085) 839-4476/1170
    www.socotech.edu.ph

    NAME: SUBJECT:COSTING AND PRICING DATE:NOV 11 22

    COURSE/YEAR: SCHEDULE: SCORE:

    SEMI-FINAL EXAMINATION
    TEST I. IDENTIFICATION
    1. Device attached to a commodity stating the price at which it is offered
    for sale.
    2. Embodied in Republic Act No. 71, as amended.
    3. There refer to the length of time for which sellers extend credit terms to
    buyers.
    4. Reduction in price allowed the buyer for prompt payment of his bill.
    5. Reductions in price given to certain classes of buyers.
    6. Price reductions offered to encourage customers to buy in large
    amounts.
    7. The company places less attention on its own costs or demand.
    8. This sets price based on how the marketer thinks that other competitors
    will price, irrespective of costs or demand.
    9. The costs of raw materials that the producer or manufacturer purchases
    to process these into finished products.
    10. Adding labor expenses makes it.
    11. The prices of the merchandise for resale that the wholesaler or retailer
    pays to manufacturer.
    12. The marketing organization tries to determine the price at which it will
    achieve the target profit it aims.
    13. Which considers consumers perceived value on the product.
    14. Offering just the right combination of quality and good service at a fair
    price.
    15. This is the simplest pricing method wherein a standard mark-up is
    added to the cost of the product.
    16. Buys and sellers can trade over range prices.
    17. Sellers are alert to competitor’s strategies and moves.
    18. There is only one seller.
    19. The sum of the fixed and variable costs.
    20. Directly related to output level, such as the quantity of raw materials
    needed to produce quantity of output.
    21. Overhead expenses that do not vary with quantity produce or sold.
    22. Pricing decisions vary with product features, distributions and
    promotion decisions.
    23. Common objectives are profit maximization, market share leadership,
    product quality leadership or competitive survival.
    Republic of the Philippines
    DEPARTMENT OF EDUCATION
    SOUTHWAY COLLEGE OF TECHNOLOGY
    (S O C O T E C H)
    San Francisco, Agusan del Sur, Philippines
    Telefax: (085) 839-4476/1170
    www.socotech.edu.ph

    24. This geographic pricing policy is synonymous with pricing of parcel


    post services, long distance telephone service.
    25. This is a geographic pricing policy where the seller is pricing FOB at the
    buyer location.
    26. It can be a situation where the buyer shoulders the entire freight costs.
    27. This pricing is based on the belief that buyers feel.
    28. Price paid by customer at a given time for a certain item is determined
    by the buyers bargaining power.
    29. In store retailers adopt one-price system, where goods are sold to
    customers at the same price.
    30. This combines several products and offers the bundle or total package
    at a reduced price.
    31. This decision requires manufacturer to seek a market for it’s by
    products and should accept any price.
    32. The strategy of pricing accessory products required to be used along
    with a main product.
    33. The strategy product options or accessory products along with a main
    product.
    34. Determining the price levels between product varieties in a line based
    on cost differences, product features, and competitors prices.
    35. Involves setting a low initial price for the product and service.
    36. Involves setting higher price from what the market expects.
    37. Charging a low price for lower quality product.
    38. The use of a high price for high quality product.
    39. The money value of a product or service expressed in terms of peso and
    or centavos.
    40. Amount of money needed in order to acquire a product or service and
    its accompanying services.
    TEST II. ENUMERATION
    1. WHAT ARE THE 4 CHARACTERISTICS OF A PRICE TAG?
    2. WHAT ARE THE 5 VIOLATIONS OF THE PRICE TAG LAW?
    3. WHAT ARE THE 5 TYPES OF DATINGS?
    4. WHAT ARE THE 3 PRICING OBJECTIVES
    5. WHAT ARE THE 5 PRICING STRATEGIES FOR PRODUCT MIX/PRODUCT
    LINE?
    TEST III. ESSAY – 38 POINTS
    1. ARE PRICING STRATEGIES CAN REALLY ACHIEVE YOUR PRICING
    OBJECTIVES OF A CERTAIN PRODUCTS? YES OR NO. JUSTIFY YOUR
    ANSWER.

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