Final answer:
Tracking usage rates of items is crucial for managing daily operations efficiently, affecting inventory, costing, and pricing strategies.
Step-by-step explanation:
The usage rates of different items during daily operations are of critical importance to a business. Tracking usage rates is essential because it directly influences operational efficiency and financial performance. For instance, understanding usage rates can help in inventory management by indicating when to reorder stock, preventing both shortages and excess inventory. It can reflect on the cost of goods sold and influence pricing strategies. Therefore, the correct answer to the question is 'c. Usage rates are crucial for daily operations', as they can lead to increases in efficiency, have no effect when optimally managed, and decreases when poorly managed.