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Instruction: Answer all TIIREE (3) in the foolscap papers provided. Question A1 GSI Wood Product (M) Sdn. Bhd., a subsidiary of GSI Holding Bhd, supplies processed- plywood to its corporate customers in Peninsula Malaysia. There was an opening inventory (120 units at RM9 cach) brought forward from March 2019. During April 2019, the company's operations had the following transactions: Date Purchases Issued out to production April 2 80 units @RM10 each April 5 140 units April 10 90 units @ RM10.50 each April 15 110 units@RM11 each April 23 80 units April 27 120 units Required: Using both FIFO and Moving Average Methods to calculate the value of closing inventory as at 30 April 2019. (Round your answers to 2 decimal points) (7 marks) Question A2 (a) Define the following items: (i) Direct cost concept (ii) Prime cost (b) Define the term 'Management accounting? (c) Describe TWO (2) differences between Financial Accounting and Management Accounting (d) Describe ONE (1) function of source document. (2 marks) (2 marks) (2 marks) (4 marks) (1 marks) Question A3 (a) The following costs have been extracted from the records of FarEx Production: Month July August September October November December Activity level Pieces 21,900 23.100 22,200 21,900 20,500 22,050 Total cost RM 277.100 287,900 269,800 265,200 264,500 263,450 Required: Calculate the fixed costs per month and variable cost per picce using the High-Low method. (4 marks) (b) Describe and sketch the term Stepped-fixed cost. (2 marks) (Total - 24 marks)