Delta Innovations Inc., a well$-$established tech company specializing in smart home devices, has decided to expand its product line by developing and launching a new smart home thermostat. This advanced thermostat will feature Bluetooth controls and live update facilities, offering users real$-$time monitoring and seamless integration with other smart home devices. Delta's management is considering naming the new product 'ThermoSync.$\text{'}$ Based on previous experiences, the mangement expects the total life cycle of ThermoSync to be five years, with the design phase taking about a year during which no sales will be made. The company anticipates that this innovative product will significantly enhance its market presence and attract tech$-$savvy consumers looking for advanced home automation solutions. market research conducted by Delta innovations Inc. has indicated a growing demand for smart home devices that offer enhanced connectivity and user$-$friendly features. Consumers are increasingly loooking for products that not improve comfort and voncenience but also integrate effortlessly with other devices in their homes. ThermoSync is designed to meet these needs, with its cutting$-$edge technology and sleek design promising to set a new standard in the smart thermostat market. To ensure the successful development and launch of ThermoSync, Delta has meticulously planned its budget, covering all phases of the product life cycle. The budgeted costs are as follows: The company is thinking of using the tootal life cycle costing to price the product. Explain how the company can benefit using the total life cycle costing approach to product costing over the traditional product costing system. $2.$ Consider the company uses the life cycle costing. Which alternatives would you recommend to the company and why? Show calculations.