McDonald's Corporation, synonymous with fast-food innovation, is on the cusp of introducing a novel menu item into its gastronomic repertoire. In a bid to ensure the economic viability of the new offering, the management endeavors to ascertain the target cost. With an estimated target cost per unit set at $3 and a projected selling price of $6 per unit, navigate through the intricacies of target costing. Additionally, delve into the realm of value engineering to identify avenues for cost optimization without compromising on the quality and appeal of the new menu item. Provide insightful recommendations to steer the project toward financial success while catering to evolving consumer preferences