Read the above article, and in conjunction with material from module 6 and your own research, answer the following questions. Any material used (apart from module 6 materials) should be fully referenced. a) What two flaws in conventional costing are identified by Garret (2015) and how are these addressed by the use of target costing and life cycle costing? In your answer explain how target costing and lifecycle costing are implemented. What is the link between life cycle costing and target costing? (5 marks) 130 words b) Compare the definition of life cycle costing per Garret (2015) with that provided by the text. Are there any differences? (1 mark) 80 words c) Identify a real-life example of a business that has undertaken life cycle costing and briefly outline how this has changed a product or process. (4 marks) 130 words QUESTION 2 – 1,160 words Reading: Sholihin, M, Pike, R, Mangena, M, Li, J 2011, 'Goal-setting participation and goal commitment: Examining the mediating roles of procedural fairness and interpersonal trust in a UK financial services organisation', The British Accounting Review, vol. 43, issue 2, pp. 135-146 (Access via USQ library search for the journal) Required Read the above article, and in conjunction with material from modules 3 and 7 and your own research, answer the following questions. Any material used (apart from module 3 or 7 materials) should be fully referenced. a) Explain the difference between imposed and participatory budgets. Why is a participatory budget considered to be more motivational and effective? (3 marks) 130 words b) After examining prior literature on goal commitment in the budgeting process, what expectation do Sholihin et al. (2011) have and what is their main hypothesis that they wish to test? (1 mark) 80 words c) The study by Sholihin et al. (2011) finds 'that goal-setting participation is positively associated with goal commitment' (p. 136). What other variables does the study introduce to examine the relationship further? (2 marks) 120 words d) Why do you think that participants were informed that there would be 'data confidentiality' and that the questionnaire responses were sent directly to the researchers? (1 mark) 80 words e) What else did the researchers do to confirm/supplement the results of the survey, according to the method section? (2 marks) 120 words f) How did the researchers attempt to ensure the validity of the survey instrument? (1 mark) 60 words g) What is a 'Likert scale'? Why is one used? (2 marks) 120 words h) Examine Table 1 p.141. Which of the variables had the greatest variety/spread of answers? (1 mark) 80 words i) Examine Table 4 p. 143. The t-statistic results are given in brackets. What is a t-statistic and why do the researchers conclude that in the full model (Panel C - all variables included) hypothesis H5 'Trust is positively associated with goal commitment' is 'not supported'? (2 marks) 120 words j) In what ways do the researchers claim that this study contributes to the literature i.e. expands on or improves research that has already been done? (3 marks) 130 words k) What limitations do the researchers believe that their study has? (2 marks) 120 words