This assignment is worth 25% of your total mark. Submission is due at 11:59pm on Thursday 8 October 2020. In this course, we have focused on developing your understanding of the elements of management accounting, which provides organisations with relevant cost-related information to assist with their planning, controlling and decision-making. You will examine the process of identifying, determining, classifying, analysing and allocating costs to products and services. This assignment gives you the opportunity to demonstrate and apply your understanding of product design and costing in a practical manner. We have acknowledged that the global business environment has been more competitive than ever before, especially in the rapid advancement of information technology and the unprecedented level of globalisation and financial market integration. To survive and prosper in such rapidly changing world, businesses must keep up the capacity to innovate products and services, and to manage resources effectively and efficiently This assignment requires you to develop and design a product (not service) of your choice. It might be an existing product with your take on it with necessary improvement or a new product that does not exist in the market. You need to undertake R&D to determine the design, characteristics and functions of your product, calculate its upstream cost, and provide an explanation as to why you want to produce this product. Then, you need to identify and determine your product’s production and downstream costs for 40,000 units manufactured. Finally, you need to determine the price of your product and how it will be