Consider the following situation: Your manager comes to you and says, “I don’t understand why everyone is talking about the total-life-cycle costing approach to product costing. As far as I am concerned, this new approach is a waste of time and energy. I think we should just stick to what we know, and that is the traditional approach to product costing.”
Required
Write a memorandum critiquing your manager’s view. In the memo, discuss the benefits of adopting the total-life-cycle costing approach.