Why should a traditional visual artist prepare a cost sheet for a product?
Answer and explanation
Correct answer: To determine a fair price and estimate profit
A cost sheet records expenses such as raw materials, colours, use of tools, labour, time and other costs. It helps the artist calculate the total cost, set a fair selling price and estimate profit. Selecting only the size or colours is not the purpose of a cost sheet. Exam tip: link a fair price with total cost plus a reasonable profit margin.
Frequently asked questions
What is the correct answer to this question?
To determine a fair price and estimate profit
Why is this the correct answer?
A cost sheet records expenses such as raw materials, colours, use of tools, labour, time and other costs. It helps the artist calculate the total cost, set a fair selling price and estimate profit. Selecting only the size or colours is not the purpose of a cost sheet. Exam tip: link a fair price with total cost plus a reasonable profit margin.
Which subject and chapter does this question cover?
This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Traditional occupations in India - Visual arts.
