The Five Steps Involved in the Design Process Are

question 13

Multiple Choice

The five steps involved in the design process are

• A) idea generation, concept development, design engineering, manufacturing engineering, and production
• B) concept generation, idea development, manufacturing engineering, design engineering, and production
• C) idea generation, concept development, design engineering, concurrent engineering, and execution
• D) concept generation, concept development, flexible engineering, manufacturing engineering, and production

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Definitions:

Contribution Margin Ratio

The percentage of each sales dollar that contributes to covering fixed costs and generating profit.

Break-Even Point

The sales level at which total revenues equal total costs, resulting in neither profit nor loss.

Fixed Costs

Costs that do not change with the level of production or sales over a certain range and period, such as rent, salaries, and insurance premiums.

Unit Contribution Margin

The amount by which the selling price of a unit exceeds its variable costs, contributing to covering fixed costs and generating profit.