share your business product process and your production costing?

Our business product process involves several steps:

1. Idea generation: We brainstorm ideas for new products or improvements to existing products based on market research and customer feedback.

2. Concept development: We develop concepts for the product, including design, features, and target market.

3. Prototyping: We create prototypes of the product to test its functionality and gather feedback from potential customers.

4. Testing and refinement: We conduct thorough testing of the product to ensure it meets quality standards and make any necessary refinements.

5. Production: Once the product is finalized, we move into production, sourcing materials and manufacturing the product at scale.

As for production costing, we calculate our production costs by considering the following factors:

1. Materials: We calculate the cost of raw materials needed to manufacture the product, including any components or packaging materials.

2. Labor: We factor in the cost of labor required to produce the product, including wages for manufacturing workers and overhead costs.

3. Overhead: We include overhead costs such as rent, utilities, and equipment maintenance in our production costing.

4. Manufacturing process: We consider the cost of the manufacturing process, including any machinery or equipment needed to produce the product.

5. Quality control: We budget for quality control measures to ensure the product meets our standards and any regulatory requirements.

By carefully calculating our production costs, we are able to set competitive pricing for our products while maintaining profitability.