Life-Cycle Costing Is Best Described by Which of the Following

question 37

Multiple Choice

Life-cycle costing is best described by which of the following?

• A) it is a method of cost planning to reduce manufacturing costs to targeted levels
• B) it is the process of tracking and accumulating costs that are incurred within the manufacturing and distribution links of the value chain
• C) it is the process of tacking and accumulating business function costs across the entire value chain
• D) it is a costing system that focuses on reducing costs during the manufacturing cycle

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Definitions:

Scottish Immigrant

An individual who has relocated from Scotland to another country, often contributing to cultural, economic, and societal aspects of their new community.

Andrew Carnegie

An industrialist and philanthropist who led the enormous expansion of the American steel industry in the late 19th century and is often considered one of the richest people in history.

Edward Bellamy

An American author and socialist, most famous for his utopian novel, "Looking Backward: 2000-1887."

Standard Oil

An American oil producing, refining, and transporting company established by John D. Rockefeller that became a symbol of the monopolistic practices and economic power of the Gilded Age.