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23. BAG Company, a handbag manufacturer, is planning to launch 2 new products under the label Young and Classy. Both products will go through consecutive processes of cutting and sewing. The two products will use overhead activities, with the following cost: Setting up equipment RM3,000 Machining RM20,000 Management has been provided with the expected annual prime costs for each handbag, the machine hours, the setup hours, the expected production and sales, and target selling price unit Classy Direct material Direct labour Unit Machine hours Setup hours Target selling price unit Young RM9,000 RM9,000 3,000 2,000 100 RM15 RM15,000 RM9,000 3,000 3,000 100 RM25 Management has decided to use target costing for proactive cost planning, cost management and cost reduction. In addition, activity-based costing is used to absorb the overhead costs into product and the management is desired to achieve 50% profit margin on sales. Required: (a) Calculate expected cost per unit for each product and identify any cost gap that might exist (b) Assuming a cost gap was identified in (a), outline ways that BAG Company could take to reduce this gap. (c) What are the benefits gained by BAG Company from using target costing for launching the new products