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Lalki Kato Pty Ltd manufactures a wide range of defcious cakes and pastries. At the onnual Christmas party. The company's owner, L.M. Kato' treated his employees to a nostalgic review of the firm's history, he told them. Twenty years ago, we had only three product ines-ples, finger burs and foringlors We were flat out producing large volumes of each product, using very simple machinery and a lot of hard work Myl How times have changed' We still make and sell a lot of ples and lomningtons, but we also produce a wide range of low volume lines such as Danish parties, doughnuts and vanilla sices. I hear you sighing, and no wonder, these low volume products are a pain in the neck They are complex to produce and their short production runs involve a lot of extra machinery setups and material handling. Bu the occountants del me that these speciality ines have wonderful profit margins so we must not complain Kato the outlined the dramatic changes that had occurred within the business over the past 20 years. In the factory he had seen the introduction of computer-controlled mbing machines and ovens that replaced a lot of the direct labour operations, and an increased emphasis on quality and delivery performances. Indeed, right across the business, more and more effort had been placed to keep customer happy. However, his speech cast a gloomy shadow across the Christmas festivities when he Despite all this progress the company seems to be struggling Our profits are decining and if things don't mprove over the next few months this may be our last Christmas together. To survive, we must all work very hard. We must forecast on increasing sales particularly of our high margin specialty products The company's management accountant, Lanilanne, had become concerned about the conventional product costing system Craving for Cakes. The manufacturing people were also sure that the costing system was distorting product costs warned. REQUIRED: 1. Describe the changes in cost structure that are likely to have occurred at Craving for Cakes over the last 20 years and explain that causes marks 2. Do you thing that the existing costing system undentates or overstates the cost of a. Lamingtons b. Danish pastries Explain your answer 5 marks Activity batea conting the potentiomprove of product Colt hawe important to main content to understandini Acest Tabely and then the three mon marks