1. Take a Business; it can be real or imaginary. Such as production of cupcakes, biscuits etc. and give a brief description about your business. (1 marks) 2. List and explain various costs involved in producing your product. (1 marks) 3. On the basis of imaginary figures of cost prepare the cost sheet showing Prime cost, Works cost, Cost of Production, Cost of goods sold, Total cost, Selling price and Profit/Loss. (3marks) 4. Based on imaginary figures what type of material control techniques you are following in your business? (Mention and calculate any 3 material control techniques) (1.5marks) 5. Based on imaginary figures what type of wage payment system you are following in your business? (Mention and calculate any 3-wage payment system) (1.5marks) 6. How you will distribute (Basis of distribution) overhead cost in your imagined business. (2marks)