please show calculations and answer all questions

Questions 1 Access Ltd manufactures and sells a single product X, the standard unit cost details of which are as follows: NS Direct Materials 65 Direct Wages 45 Variable Overhead 30 The Budgeted monthly fixed production overheads are $45,000. The budgeted output per month is 3,000 units. The product has a standard selling price of $200 per unit. The actual production and sales for the two months were: April May Units Units Sales 3,200 3,300 Production 3,000 3,100 There was an opening stock of 500 units on 16 April Required: (a) Calculate the standard cost and profit for one unit of X. (5 marks) (b) Prepare the income statements for each April and May, using: (0) Marginal costing (ii) Absorption costing (16 marks) (c) Advise the management team of Access Ltd on the best costing method. (4 marks) (Total 25 marks) 1 2 of 3 Question 2 Omake Lid is considering purchasing or investing in a new machine, either machine X or machine Y. However, a condition of capital rationing exits in the company (meaning due to availability of funds they can either invest in machine X or machine Y and not both), and hence the need for capital budgeting appraisal Both machines would have an expected life of five years and would be depreciated on a straight line basis. The following information is watable Machine X Machine Y Initial cost (5) 45 000 56 000 Residual value 5000 8000 Machine X Machine Accounting profits (5) $) Year 1 6000 5 000 Year 2 7000 6000 Year 3 8000 4000 7000 Year 5 3000 4000 Better Limited cost of capital is 10% per annum for which the discount factors are: Year 1 0.909 Year 2 0.825 Year 3 0.751 Year 4 0.683 0.621 Required (a) For both machines X and Y calculate The accounting rate of return (based on average capital employed). (4 marks) 7000 Year 4 Year 5 Payback period (4 marks) chuyet present value (NPV) (10 marks) (b) Recommend with reasons which machine should be purchased (3 marks) (c) State the disadvantages of both the accounting rate of return and the payback period as capital investment appraisal techniques (4 marks) (Total: 25 marks)