Consider the following statements about Kaizen Costing:
- Kaizen Costing focuses on continuous incremental improvements in the production process.
- It involves setting and achieving cost reduction targets over time.
- Kaizen Costing is primarily concerned with drastic cost-cutting measures.
Which of the above statements are correct?
1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
3 only
5
1, 2, and 3