Answer / kamal

Price Rate is MRP for a product.
Cost Rate is that for a mfg a prduct how much amount is exp
the same amount is cost rate for a co.
In cost Rate included :- Labour cost, Raw Material cost &
MFG cost.

Answer / venkat rajesh m

price= cost+profit
price is the combination of both cost of production/manufacturing & profit.

cost=fixed cost+variable cost
cost deals with fixed cost like(labour cost) & variable cost(raw material cost)

i.e price={fixed cost+variable cost}+ profit

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