Question 2 Not yet answered Marked out of 1.00 P Flag question M-Tech manufactures a single product that has a cost of $350. The company uses a 70% markup on cost to arrive at a selling price of $595, which results in a price that virtually always exceeds that of the market leaders. If M-Tech changes to the approach known as target costing, the company will first: O a reduce its 70% markup rate O b. change the markup so that it is based on sales rather than based on cost O c. undertake a thorough study of competitors' prices O d. attempt to re-engineer its product e. trim its $350 cost