The sum of all costs incurred in all business functions in the value chain (product design, manufacturing, marketing, and customer service, for example)is known as the:
A)business cost
B)full product cost
C)gross product cost
D)multiproduct cost

Question

Quizplus · Accepted Answer

The full product cost includes all costs incurred in all business functions in the value chain, including product design, manufacturing, marketing, and customer service. This total cost is used to determine the price of the product and ultimately impacts the profitability of the company.

The Sum of All Costs Incurred in All Business Functions