Which price quotation method involves pricing each unit of service and/or merchandise?

The method of pricing that involves pricing each unit of service and/or merchandise is known as itemization. This approach allows funeral service providers to specify the exact cost of each individual service or item that a family may choose, creating a detailed, transparent breakdown of expenses. Itemization is beneficial because it provides clarity to consumers, enabling them to understand exactly what they are paying for and allowing them to make informed decisions based on their preferences and budget.

For instance, if a family selects a casket, a viewing service, and transportation, itemization would list each item separately with corresponding prices. This practice is not only compliant with the Federal Trade Commission’s Funeral Rule, which promotes transparency in funeral pricing, but it also helps families feel empowered in their choices.

In contrast, package pricing groups multiple services and/or merchandise together into a single price, which might not detail the individual costs of each component. Bundled pricing similarly combines several items into one price but focuses more on offering a perceived value rather than a detailed breakdown. Flat rate pricing provides a single price for a service regardless of the underlying components, which does not facilitate the level of detail that itemization does. Thus, itemization stands out as the method that focuses specifically on individual pricing for services and merchandise.