Greetings @saintkelvin17

1.- You have shared your point of view about the cost and its importance. While it is true, the cost is always present in a business, especially when it takes its first steps, but there are small ventures such as the barber, which does not require much capital to start providing a service that provides good dividends.

2.- You have identified the difference between costs and expenses. It is important to be clear that the cost is more related to the production than the expense, I think that the barbershop is very flexible when it comes to requiring a space, even I do it from my room, depending on the competitiveness in the market, we can go disbursing money to improve the service provided.

3.- You have given your opinion on the benefits of good costing. We must keep in mind that any disbursement that a business generates must be properly recorded to take it into consideration when estimating the cost, this will help us to maintain a profit margin that can be reinvested to grow our business.

4.- You have shown how to determine the costs of a barbershop related enterprise. It is important to be clear about the difference between estimation and costing, the first one allows us to see how much money we require to produce a good or provide services, while costing is to associate the expenses generated.

Below I share the evaluation summary.

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