PANA Organic have seen a signicant increase in sales over the last 12 months. This is largely due to brand awareness and their product visible in many large retail grocery stores. The sales manager of DANA Organic has asked you to review their current pricing strategy of three of their most popular products as they are concerned that there has been an increase of new competitors offering similar products. The company wishes to use target costing for this analysis. The prices are quoted here in Australian dollars ($AUD). a] What is target costing? Explain. [4 marks] (_ (.1 b) Use the information in the following table provided to calculate the target costs for the three products (ensure that you show all workings]. [4 marks] _ Current retail selling price $1100 Pana drink blends _ The current required prot margin on all PANA's products is 30% (s <_j c the current costs for producing each product per unit are provided in table below. which of not meeting target cost why marks _ pana drink blends d provide two su as to how organic could achieve or maintain costs. consider supply chain opportunities a sulestion here. e three ways value analysis assist being able identify eliminating non added activities improve reduction initiatives. explain.>