cost

Variable manufacturing cost

direct materials + direct labor + variable overhead

Variable cost of the product

Variable manufacturing + variable non manufacturing costs

Manufacturing cost

Variable manufacturing + fixed overhead

Full cost of the product

Manufacturing cost + nonmanfucaturing cost or fixed cost + variable cost

value engineering

lower costs while increasing value

what factors affect pricing decisions

customs, competitors, costs

competence

know what your doing

confidentiality

don’t tell others about the company

integrity

conflict of interest

credibility

provide quality information