Ongoing efforts to reduce costs,increase product quality,and/or improve production process once manufacturing has begun is known as
A)cost management.
B)kaizen costing.
C)target costing.
D)life-cycle costing.

Question

Quizplus · Accepted Answer

Ongoing efforts to reduce costs, increase product quality, and improve production processes after manufacturing has begun is known as kaizen costing. This approach involves continually making small improvements to eliminate waste and increase efficiency in the production process. Cost management, target costing, and life-cycle costing are all related to the cost management process but do not specifically refer to ongoing efforts to improve production processes after manufacturing has begun.

Ongoing Efforts to Reduce Costs,increase Product Quality,and/or Improve Production Process