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ACT 201: Managerial Accounting Project topic: Determining The Cost of a Product Group members: 2 Requireme...S: You have to select a small local store (dokan) in your area who manufactures their own goods and sell it to customers all through the year. Your field job is to conduct an interview and find out their manufacturing process for one product. Based on your interview data, you will have to determine the cost of the product (for only one product) and answer the following: 1. Find out their product details. 2. Write down the production process. 3. Determine the cost of the product (DM, DL and MOH). You need to calculate the cost/product. 4. Are they following any costing method, i.e., job order/process/their own method? 5. What is the price of the product? Find out the profit margin of the product. 6. Based on your data calculate the contribution margin, breakeven point, breakeven revenue of the product. 7. Provide any feedback that can help them to be more attractive towards their customers