(Answered) 1at is target costing what types of firms use it 13-6

Management Studies

1. What is target costing? What types of firms use it? 13-6 What is life-cycle costing? Why is it used?

2. Name the five steps of the theory of constraints and explain the purpose of each. Which is the most important step and why?

3. What does the term constraint mean in the theory of constraint analysis?

4. What is the role of the flow diagram in the theory of constraints analysis?

5. How important is product design in life cycle costing? Why?

6. What does the concept of value engineering mean? How is it used in target costing?

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