To determine the selling price of a textile product.

To control and minimize production costs.

To evaluate the profitability of a textile venture.

To ensure compliance with industry standards.

Job costing.

Process costing.

Activity-based costing.

Standard costing.

Raw material costs, labor costs, and overhead costs.

Direct costs, indirect costs, and fixed costs.

Variable costs, semi-variable costs, and step costs.

Prime costs, conversion costs, and period costs.

By multiplying the number of labor hours by the hourly wage rate.

By dividing the total production cost by the number of labor hours.

By subtracting the raw material cost from the total production cost.

By adding the overhead cost to the raw material cost.

Costs incurred during the production process that cannot be directly attributed to a specific product.

Costs associated with the purchase of raw materials.

Costs related to the wages of production workers.

Costs incurred for marketing and advertising the textile product.

To cover the cost of production and generate profit.

To maintain a competitive position in the market.

To ensure customer satisfaction.

To comply with government regulations.

By dividing the desired profit by the cost of production.

By subtracting the cost of production from the selling price.

By multiplying the cost of production by a predetermined markup percentage.

By adding the cost of production and the desired profit.

Cost of production, market demand, and competition.

Government regulations, environmental concerns, and technological advancements.

Customer preferences, brand image, and seasonal trends.

All of the above.

It ensures that the selling price covers all costs and generates a profit.

It simplifies the pricing process and reduces the risk of underpricing.

It allows manufacturers to adjust prices quickly in response to changing market conditions.

It helps maintain stable prices and minimize price fluctuations.

Cost-plus pricing.

Value-based pricing.

Penetration pricing.

Competitive pricing.

It reduces production costs and allows for more efficient pricing.

It increases the variety of textile products available, leading to more competitive pricing.

It enhances product quality and enables manufacturers to charge premium prices.

All of the above.

It increases competition and drives prices down.

It expands market opportunities and allows for higher pricing.

It leads to more stable prices due to reduced supply and demand fluctuations.

It has no significant impact on textile pricing.

Fluctuating raw material prices.

Changing consumer preferences and fashion trends.

Intense competition and price wars.

All of the above.

By conducting thorough market research and understanding customer needs.

By implementing cost-effective production methods and reducing wastage.

By differentiating their products and creating a strong brand identity.

By adopting dynamic pricing strategies based on market conditions.

Ensuring fair wages and working conditions for textile workers.

Using sustainable and environmentally friendly materials and processes.

Avoiding deceptive pricing practices and providing transparent information to consumers.

All of the above.