Place the following steps for the implementation of target costing in order:
Definitions:
AVC
Average Variable Cost, which is the total variable costs of production divided by the quantity of output produced.
Marginal Cost
The increase in total cost that arises from producing an additional unit of a good or service.
Average Variable Cost
The total variable costs (costs that change with the level of output) divided by the quantity of output produced.
Average Fixed Cost
The total fixed costs of production divided by the quantity of output produced, illustrating how fixed costs per unit change with output levels.
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