Question 1 (15 marks) a. A manager says, According to AASB 102 Inventories, product costs used for inventory valuation or cost reimbursement need to be based on current costs, which are objective and verifiable. Therefore, product costs are not useful for and relevant to our decision making process for the future operational plan. Especially, our business is small. We don't need to implement a comprehensive product costing system." [5 marks] b. A manager says, "The whole annual budgeting process is a waste of time. In digital age, it is real- time reporting that matters. Besides, I know so many employees who regularly engage in padding the budget." [5 marks/ Click or tap here to enter text. c. A manager says, It is too difficult and almost impossible to identify someone who is responsible for the cost variances from the annual budgets":[5 marks Click or tap here to enter text. Required: As a potential management accountant, what is your response to the above comments? Do you agree or disagree with each of the above comments)? Explain your position in details and provide suitable examples