Question: As a manager interested in implementing target costing, you are contemplating three approaches. The first is to bring in an outside consultant; the second is

As a manager interested in implementing target costing, you are contemplating three approaches. The first is to bring in an outside consultant; the second is to develop your own system inside your organization with little to no outside assistance; and the third is to engage in a benchmarking project with several other firms.
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Critique each of these approaches, discussing their pros and cons. On what basis will you select your approach to implementing target costing? Explain.

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