Total-life-cycle costing is the name given to:
A)a method of cost planning to reduce manufacturing costs to targeted levels.
B)the process of examining each component of a product to determine whether its cost can be reduced.
C)the process of managing all costs along the value chain.
D)a system that focuses on reducing costs during the manufacturing cycle.

Question

Quizplus · Accepted Answer

Total-life-cycle costing involves examining all costs related to a product or service over its entire life cycle, from design and development to disposal or end of service. This includes not only manufacturing costs, but also costs related to maintenance, support, and even environmental impact. The goal is to manage all costs along the value chain and make informed decisions that balance costs, benefits, and environmental impact throughout the product's life cycle.

Total-Life-Cycle Costing Is the Name Given To