General Scenario You are a junior management accountant for a medium-sized enterprise in the manufacturing sector. During the last senior management meeting at the business, some departments'managers have complained about the lack of financial information and effective communication between departments and top management to improve their decision making. Most of the departments' managers are facing problems with how they can plan and control their future operations and what kinds of tools they might use to measure their operational and financial problem and identify any unforeseen financial problems. In order to solve and reduce this problem and to promote understanding between different departments in the organisation, you and your colleagues have been asked by your line manager to prepare a report for intemal users in different departments with fundamentals of management accourting, which are applied to a wider business environment. In this report you should cover the roles and functions of the management accounts department and the uses of financial data to aid planning decisions, and the monitoring and controlling of finance within organisations, and introduce them with the management accounting systems operating in the organisation as well as the range of managerial accounting techniques used. Assignments Brief Based on previous scenario and considering the following infomation regards the business: 1) The business consists of different operational departments, for example production department, warehousing department, and sales and marketing department. 2) The business mainly produces an identical type of product and sometimes produces special customized product upon request. 3) The business incurs the following cost categories based on the activity level: Direct material, Direct Labor. Variable Manufacturing Overheads, Variable managerial and sales expenses, Fixed Manufacturing Overheads, and Fixed managerial and sales expenses. 4) The business production budget for December 2020. Output Sales revenue Raw material Labour Fixed overhead Operating profit Original budget 1/12 1,000 units 100,000 40000 (4000 meters) 20000 (5000 hours) 20,000 Actual figures 30/12 900 units 90,000 37000 (3700meters) 17575 (4750 hours) 20,000 20,000 15,425 In order to serve different departmental managers, you have been asked by the budgeting manager to prepare a written report on the functions of Management Accounting and how it will effectively apply within the company. Your report should cover the following topics: Task 4 - Learning outcome 4 (possible evidence is a written word document) Topic 1: the available tools that the company can use to identify financial problems and measure the organization performance, with examples. And compare how the company can use different management accounting systems and techniques to respond to different financial problems. Topic 2: Analyze how, in responding to financial problems, management accounting can lead the company to sustainable success. And evaluate how planning tools will be affected by different responses to financial problems leading the company to sustainable success