1.Explain the meaning of the term target costing

2. xxx Ltd., a car manufacturer, wishes to determine a target cost for a new model of a car that

the company is about to launch in the market. The price of the car will be set at $4 million.

The company requires a 15% profit margin.

calculate the target cost for the car.

3.Explain how a just-in-time (JIT) system differs from periodic review control system

4.what is value-chain analysis Describe the stages in the value chain of a manufacturing firm.

5(a) Differences between Advanced Manufacturing Technology (AMT) and Material Resources

Planning (MRP).

6.what are the benefits that might accrue to an organization that adopts Just In Time (JIT) stock

management system.

explain the above question in detail.