ABC Temp Devicesis a domestic and global producer of temperature monitors. Based upon the influx of domestic and global companies wanting to purchase their temperature monitors, demand has recently skyrocketed.The importance of the managerial accounting department has been brought to the forefront, asthey are being asked to provide preliminary information on the new business developments. ABC's major competitoris 123Engineering Laboratories, located in Pullman, Washington.

Imagine that you are the head of ABC's managerial accounting department.The CEO has asked you to recommend an operating budget and financial benchmarks compared to theleading competitor in the market, as well as a cost system appropriate for the product.

PROVIDE A Summary of your recommendations. Be sure to include suitable sources to justify the rationalefor your decisions.

• Recommend a budget type.
• Recommend at least one financial benchmark you think the CEO of ABC should consider. Provide a rationale for your response.
• Recommend a cost system appropriate for the product.
• Provide an explanation of the budgeting rationale you proposed and why you believe your suggestions will put the company in a better position than the leading competitors. Remember to referencethe financial benchmark, budget type, and cost system in your explanation.