Target costing: manufacturer Suppose you have just started a business to manufacture your latest invention, the Glammaglob gadget. You estimate that after a few years on the market these gadgets will sell for about $250 This estimate takes account of the introduction of similar devices by your competitors. Furthermore, let's say you want to make a profit of $50 on each gadget sold. Required: What is the target cost for the Glammaglob gadget? 2 What is the target profit? 3 What is the target price? 4 Suppose your engineers and management accountants conclude that your design of the Glammaglob gadget will result in a unit cost of $230. How can you use the concept of target costing to help achieve your objective