Parallel Development,involving the Simultaneous Development of Both the Product and the Production

question 149

Multiple Choice

Parallel development,involving the simultaneous development of both the product and the production process,is the responsibility of

• A)cross-functional teams
• B)the marketing department
• C)research and development engineers
• D)product managers
• E)top management

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Definitions:

Prime Costs

A calculation in cost accounting that signifies the sum of direct materials cost and direct labor cost.

Direct Materials

Specific raw materials that are traceable to the manufacturing process of a product, serving as an essential component in its production.

Indirect Materials

Materials used in the production process that cannot be directly linked to a specific product, such as lubricants for machinery.

Managerial Accounting

The method of pinpointing, quantifying, examining, and conveying fiscal data to management to achieve a company's objectives.