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)full product cost
B)multi-product cost
C)business cost
D)gross product cost

Question

Quizplus · Accepted Answer

Full product cost includes all costs incurred throughout the value chain, from product design to customer service. This includes direct costs (such as materials and labor) and indirect costs (such as overhead and marketing expenses).

The Sum of All Costs Incurred in All Business Functions