Question 1. In your opinion, what process should a cost accountant follow in order to determine the prices that are best for her company? Give a specific plan. In addition, give an example and citations to support your response.
Question 2. What happens when company costs are not properly determined? Give an example of a company that has suffered, in the past five years, because company costs exceeded company profitability? What should the company cost accountants have done to prevent this loss? Give an example and citations to support your response.