Select a product from a product-based firm and answer these questions regarding your selection:

  • Explain and discuss the six categories of costs.
  • Explain and discuss how an organization can benefit from a focus on total cost of ownership.
  • Explain and discuss relevant costs.
  • Explain and discuss the following:
    • Downtime costs
    • Cycle time costs
    • Conversion costs
    • Non-value-added costs
    • Supply chain costs
    • Product liability costs
    • Customer satisfaction costs

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