Cost, price, and profit are important factors in determining how much a product should be sold for. Different costing techniques are used by businesses to figure out these factors. Cost-volume-profit analysis looks at how a company's sales volume affects its revenues and costs. Cost-volume-price-profit analysis adds the element of price into the mix. Businesses need to know the cost of making a product before setting its price. Customers want to know what goes into making a product before deciding to buy it. This article talks about different costs used for different purposes and how businesses use costing techniques to make decisions.