Case Study Toys-4-Children Ltd (T4C) manufactures and sellschildren’s toys in Australia. The company currently faces thefollowing core issues and challenges: • T4C aims to introduce a newproduct – ‘Gold Fish’ – and it needs to develop some preliminarycost estimates. • T4C faces increasing competition from newcompetitors who are importing children’s toys from China andselling them at low prices in the Australian market. • T4C isstruggling with decision making and control over operations in thehighly competitive and innovative market environment. Required: 1.Identify and critically discuss the management accounting tools andtechniques you would apply to develop cost estimates for the newproduct. 2. Identify and discuss what you think should be thesalient features of T4C’s business strategy to effectively dealwith its competitors. 3. What recommendations could be made to T4Cto develop efficient decision making and control systems to ensureits sustainability in the highly competitive and innovative marketenvironment?
please take a reference from Horngren's Cost Accounting: AManagerial Emphasis, 3rd Edition
