Dickeson--Job Costing - A Virtual Reality Check

Truth is, we were bested on that bid by our own pricing, not our competitor's misunderstood costs. Prices and costs are totally different concepts in a free market economy. It costs General Motors $400 more to make a new sedan than it costs Ford, the press tells us. That may or may not be so. That's someone's view of the virtual cost realities of auto manufacturing. As consumers, we don't care what it cost either company to make a car. We buy it because…well, because it has a cooler look and is "better priced" for the values we perceive.