What is target costing and how is it used to price products?

What is target costing and how is it used to price products? Due 7/30, Due 7/31 Estimating Cost Functions- Select 2 of the seven common problems with data collection identified on P 353-354 and explain in your own words why the problem exists. Give a real world example in which the problem may be encountered, and describe how a cost analyst can overcome the problem in the example. Be specific about what needs to be done, and do not repeat what is said in textbook.