"Cost Plus" is a pricing strategy where a business calculates the total cost of producing a product or service and then adds a specific markup percentage to determine the selling price. This method ensures that all costs, including materials, labor, and overhead, are covered while providing a profit margin. This approach is commonly used in industries like construction and manufacturing, where costs can be variable and difficult to predict. By using the Cost Plus method, companies can maintain transparency with clients and adjust prices based on actual expenses incurred during the production process.