There are two separate concepts in cost of service pricing they are?

The two separate concepts in cost of service pricing are direct costs and indirect costs. Direct costs are expenses that can be directly attributed to the production of a service, such as labor and materials. Indirect costs, on the other hand, are expenses that cannot be directly linked to a specific service, such as administrative overhead or utilities. Together, these costs help determine the overall price charged for a service, ensuring that all expenses are covered.