Questions:
1. Which activities are elements of value engineering?
a. Reducing durability
b. Reducing product features
c. Reducing the number of parts
d. All of the above
2. Why is there a milestone review in target costing?
a. To review the expenses incurred by the target costing team
b. To see if product prices have changed since the project began
c. To examine changes in product technology
d. To compare the designed cost of a product to its target cost
3. The role of a cost accountant on a target costing team does not include:
a. Compiling the cost of the product
b. Evaluating the performance of the team
c. Cost variance analysis
d. Obtaining cost information from suppliers