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1. Budgetary control and standard costing have the common objective of cost control by establishing pre-determined targets. These two techniques are similar in certain respects but differ in respect of other points. Require to: Compare and contrast budgetary control and standard costing. 10 marks 2. Unicorn Company manufactures a device that is used by internet users to boost Wi-Fi signals. The following data relates to the first month of operation: Beginning inventory: 0 units Units produced: 40,000 units Units sold: 35,000 units Selling price: OMR72 per unit Marketing and administrative expenses: Variable marketing and administrative expenses per unit: OMR2.4 Fixed marketing and administrative expenses per month: OMR672,000 Manufacturing costs: Direct materials cost per unit: OMR18 Direct labour cost per unit: OMR8.4 Variable manufacturing overhead cost per unit: OMR2.4 Fixed manufacturing overhead cost per month: OMR768,000 . Management is anxious to see the success as well as profitability of newly designed unique booster. Required to: i. ii. Calculate unit product cost 10 marks Prepare income statement under marginal costing system and absorption costing system. 20 marks Prepare a schedule to reconcile the net operating income under variable and absorption costing system and state the reasons for difference in profit under these costing systems. 10 marks Compare marginal costing system and absorption costing system. Also, analyse which method is iv. better and why. 10 marks 3. Break Even Analysis is a concept in Marginal Costing, which is a useful tool to study the relation between fixed costs and variable costs and revenue. Required to: i. ii. Explain the benefits and limitations of Break Even Analysis. 10 marks Provide your own numerical data and show the calculations for Break Even point in units and in Omani Rials, explaining how Break Even Analysis helps in decision making. 10 marks Construct a Break Even Chart showing all its components. 10 marks iii. Provide a conclusion 10 marks Total 100 marks Additional instructions: The students need to prepare an assignment based on the questions above. In Question 1, student needs to give an introduction about budgetary control and standard costing and then compare and contrast both the methods. (Approximately 550 words) In Question 2, student needs to give an introduction about Marginal costing and Absorption costing. (Approximately 500 words) Additional instructions: The students need to prepare an assignment based on the questions above. In Question 1, student needs to give an introduction about budgetary control and standard costing and then compare and contrast both the methods. (Approximately 550 words) In Question 2, student needs to give an introduction about Marginal costing and Absorption costing. (Approximately 500 words) Also, need to show the working note for the calculations, if any. Question 2-i, ii and iii (Approximately 500 words) Comparison between the two methods (Approximately 600 words) In Question 3, students need to give an introduction about Break Even analysis (Approximately 400 words) and then answer the question i (Approximately 500 words), ii (numerical part approximately 300 words) and theory part approximately 300 words)and iii preparation of chart explaining its components( approximately 300 words) Student needs to give a conclusion summarizing the topics discussed in the assignment. (approximately 250 words) At least five (5) references from different sources in Harvard Referencing style. As the assignment is based on numbers and calculations along with theory, it is just given as approximate word count. The overall word count should be equivalent to 4,200 words. ***END OF ASSIGNMENT TASK** ***