ACCT I S 211 Study Guide - Midterm Guide: Balanced Scorecard, Triple Bottom Line, Value Engineering
13 Oct 2016
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Document Summary
Total-life-cycle costing (tlcc) the approach companies now use to understand and manage all costs incurred in product design and development, through manufacturing, marketing, distribution, maintenance, service, and disposal: (cid:498)from the cradle to the grave(cid:499) purpose. Committed costs costs that executives or managers have authorized to be spent for a particular. Incurred costs actual costs that the company is obligated to pay based on activity that happens during the year. Market research during which emerging customer needs are assessed and ideas are generated for new products (customer needs, ideas) Product design during which scientists and engineers develop the technical specifications of products (technical aspects) Post sale service and disposal stage: overlaps with the manufacturing stage, consists of 3 substages: retires the final unit of a product. More harmful effects = higher the costs. Different industries will incur different costs at each stage: disposal costs include those associated with eliminating any harmful effects associated.
