Question
Differentiate between Unit Cost and Unit Price.
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Answer
The following are the differences between Unit Cost and Unit Price.
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Basis
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Basis
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Unit Price
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Meaning
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Unit Cost can be defined as the cost incurred by a company to produce, store and sell one unit of sale of a particular product or service.
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Unit Price is the price at which one unit of sale is sold.
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Examples
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Variable costs like raw materials, packing materials, sales commission, freight, etc.
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