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A target cost is 'a product cost estimate derived by subtracting a desired profit margin from a competitive market price. (CIMA, 2005). Required: The target

A target cost is 'a product cost estimate derived by subtracting a desired profit margin from a competitive market price. (CIMA, 2005).

Required: The target costing is cost management techniques, and discuss the advantages of using this technique within firms. (3 marks)

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