Boswell Plumbing Products produces a variety of valves, connectors, and fixtures used incommercial and residential plumbing applications. Recently, a senior manager walked into the costaccounting department and asked Nick Somner to tell her the cost of the D$45$ valve. Nick quicklyreplied, Why do you want to know? Noticing that the manager appeared somewhat startled by thisquestion, he explained, The cost information you need depends on the decision youre going tomake. You might be thinking of increasing a scheduled production run of $3,000$ D$45$s by $100$ units orscheduling an additional production run, or you might even be thinking of dropping the product. Foreach of these decisions, the cost information that you need is different.RequiredUsing the concept of incremental analysis, expand on Nicks response of$,$ Why do you want toknow? What cost information would be relevant to a decision to drop the product that would notbe relevant to a decision to increase a production run by $100$ units?