Cost Management Tools and Techniques That May Provide Data for Negotiations

question 5

Multiple Choice

Cost management tools and techniques that may provide data for negotiations with internal organizational stakeholders and/or externally with suppliers include:

• A)activity-based costing.
• B)the learning curve.
• C)total cost of ownership.
• D)activity-based costing and total cost of ownership.
• E)activity-based costing,the learning curve and total cost of ownership.

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Definitions:

Indirect Labor Costs

Costs related to labor that cannot be directly tied to the production of specific goods or services, such as maintenance personnel or supervisors.

Activity-based Costing

An accounting method that assigns costs to products based on the activities involved in manufacturing or providing a service.

Indirect Costs

Expenses related to the general operation of a business that cannot be directly attributed to a specific project or activity.

Academic Departments

Academic departments are specialized divisions within a college or university, focusing on a particular field of study or academic discipline.