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Company B manufactures and sells a range of products. It is not dominant in the market in which it operates and, as a result, it has to accept the market price for each of its products. The company is keen to ensure that it continues to compete and earn satisfactory profit at each stage throughout a product's life cycle.
Required
Problem 1: Explain how Company B could use target costing and Kaizen costing to improve its future performance. Your answer should include an explanation of the differences between Target costing and Kaizen costing
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