Final answer:
The Finance department is generally responsible for developing cost information for new products or services, as they handle financial planning and analysis.
Step-by-step explanation:
The functional department that typically develops cost information for a new product or service is the Finance department. This department is primarily responsible for financial planning, analysis, and the overall management of a company's finances. They calculate the costs associated with producing or offering a new product or service, considering factors such as the cost of materials, labor, overhead, and how these expenses will affect the company's financial projections and profitability.