Please answer the questions using the info below: What strategy should Adam pursue $$ differentiation or cost$?$

What type of costing system, $($process costing, job costing, and so on$)$ might be appropriate for Adam? Explain.

Based on the information provided, students$$ answers to the foregoing questions and any other analysis that you have undertaken, do you think that this will be a lucrative endeavor for Adam in retirement? Support your assertion with computations, and so on$.$ Option $1$: Buy a drum sander

Cutting boards: $$1,297\mathrm{.}50$

Headboards: $$60$

Total: $$1,357\mathrm{.}50$

Profit Margins:

Cost for small cutting board: $$22\mathrm{.}70$

Profit Margins:

Small cutting board:$$12\mathrm{.}30$

Hourly profit rate:

Small cutting board: $$4\mathrm{.}10$ per hour

Given the calculations, in order to cover the cost of production and gain a minimum of $\%30$ profit Adam should begin to charge $$310.$ Taking into consideration the qualitative advantages over time, Adam could begin to charge up to $50\%$ profit margin as he gains experience and skill.