Estimates refer to the projected costs or pricing for a product or service that a business provides to its potential customers. Estimates are typically provided during the sales process to help customers understand the approximate cost of a particular product or service. Estimates can be created using various factors such as material costs, labor, and other expenses. They may also include additional costs such as taxes, shipping, or handling fees. Estimates can be useful for customers to determine if a product or service fits within their budget and can help businesses forecast revenue and expenses. Accurate and transparent estimates can also help build trust and credibility with customers.