Explain the following regarding a Just-In-Time purchasing system. a. Benefits (3 marks) b. Limitations. (3 marks)

2. Explain the three advantages of using marginal costing as the basis of providing managers with information for decision making. (6 marks)

3. State and briefly explain three types of standards and their behavioural implications. (9 marks) 4. Differentiate between a

a. profit centre and an investment centre. (4 marks) b. sunk cost and opportunity cost. (4 marks)

5. Revenue and cost details for a company's single product are as follows: BWP per unit BWP per unit Sales pricec 27 Variable cost 15 Fixed cost 8

(23) Profit 4 Fixed costs are absorbed based on the company's normal activity, which is also the company's budgeted sales value for each period. Last period there were no changes in inventory and the company achieved a margin of safety of 20% of the actual sales volume. Fixed costs were over-absorbed by P2,400. Required: a. Calculate the breakeven point in units for each period. (6 marks) b. Calculate the number of units to be produced and sold to achieve a profit of P6,600 for the period. (5 marks)