1.1 Read the three statements below: (2) a) The value added in a transformational process is the difference between the costs of all the inputs and the price fetched by the finished product or service. b) The requirements of the customer are one of the important guidelines during the design stage of a product or service. c) Overcapacity occurs when an organization can produce more products or services than required by the customer. Which of the above statements is/are incorrect? ia and c. iib iii a, b, and c iv band c v None of the above 1.2 Read the three statements below: (2) a) Large fluctuations in demand result in good quality products b) Minimizing unproductive time, balancing workflow through the production process, and synchronizing workflow can result in more effective capacity. c) Capacity should not be measured in terms of monetary value Which of the above statements is/are incorrect? i a, b, and c ii a iiia and b iv c v None of the above. )