Mini Bio (1) George Timothy Clooney was born on May 6, 1961, in Lexington, Kentucky, to Nina Bruce (nÃ©e Warren), a former beauty pageant queen, and Nick Clooney, a former anchorman and game show host (who was also the brother of singer Rosemary Clooney). He has Irish, English, and German ancestry.
In effect, target costing is a proactive cost planning, cost management, and cost reduction practice whereby costs are planned and managed out of a product and business early in the design and development cycle, rather than during the later stages of product development and production.
Relevant costing is an incremental analysis which means that it considers only relevant costs i.e. costs that differ between alternatives and ignores sunk costs i.e. costs which have been incurred, which cannot be changed and hence are irrelevant to the scenario. Example. Company A manufactures bicycles.