Which of the Following Formulas Is the Best Representation of the Concept
Which of the following formulas is the best representation of the concept of target costing?
A) target cost + profit margin = selling price
B) selling price - target cost = profit margin
C) selling price - profit margin = target cost
D) target cost - standard cost = profit margin
Successful product development should include
A) kaizen costing.
B) value engineering.
C) kanban implementation.
D) all of the above.
Value engineering seeks to obtain increased
A) product life-cycle and reduced direct labor inputs.
B) planning team membership and reduced time-to-market.
C) product performance ratio and reduced substitute goods.
D) product functionality and reduced costs.
A) can be applied to services if they are sufficiently uniform.
B) can be applied to services only if they are automated.
C) can be applied to services that are performed in a manufacturing environment.
D) cannot be applied to services.