1.- You have given an acceptable concept about Cost and you have shared its importance. It is very important to take into account the cost of electricity and wages, especially those directly related to production.

2.- You have developed a difference between costs and expenses. As you say, there is a lot of similarity, but what is differentiated is the purpose as such, the cost is directed to the product, the expense is focused on the usual activity and/or need of the company in general.

3.- You have developed some benefits of good cost determination, the efficiency of the calculations allows you to make future adjustments to production, and to evaluate the offers of other suppliers.

4.- You have shared some steps to follow to determine the cost. It is good to be clear about the product that is going to be produced, and the resources necessary to achieve it. We must also take into account the suppliers, and adjust to the capital that we may have.

Below I share the evaluation summary.

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