Unformatted text preview: b. Cost, technology, productivity, convenience, software applicability, etc. c. Initial cost, repairs, warranty, upkeep, monthly payments and interest, dependability, insurance costs, etc. d. Control of the situation, class participation, perception, image, etc. 15. Value added is defined as the difference between the cost of inputs before the transformation process and the value or the price of output after the transformation process. In a manufacturing process as the inputs are transformed to outputs, value is added to products in a number of different ways. The value adding can take many different forms. For example, value can be added by changing the product structurally (physical change) or transporting a product (a product may have more value if it is located somewhere other than where it currently is)....
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- Spring '12
- Accounting, insurance costs, initial cost, term production/operations management