Only needs to be 2-4 Paragraphs
One of your best friends has learned that you are taking a course in Managerial Accounting! Your friend is a guitarist, and he/she is considering opening a small factory in the town where you both live to produce and sell custom-made wood guitars. The selling price of each custom-made guitar will range from $500 to over $5,000. Your friend is going to name the Company “Custom Woods Guitars, Inc.” (aka. Custom).
Your friend is genuinely concerned about tracking the costs of producing each type of guitar to make sure that she/he charges a price for each guitar that is both market-competitive and results in a reasonable gross profit to the business.
Answer the following questions as part of your initial response.
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