Pls only answer if u know the answers, do provide clear workings and correctly format the accounts

Question 1 The hotel and travel industry was devastated by the Covid-l9 pandemic. The Singapore Tourism Board reported in April 2020 a near [00 per cent drop from the 1.6 million tourists the previous year (Straits Times, 4 June 2020). However, towards the end of 2020, lockdown measures will be relaxed in many countries as governments start to make reciprocal air-bubble travel arrangements and promote domestic staycation. The hotel industry must prepare itself for a gradual recovery. Keys to recovery in the hotel industry are: 0 To execute stringent cost saving measures. This is an area in which management accounting can make important contributions. 0 Prepare to welcome more leisure guests from the domestic market; and 0 To build guests' condence by addressing Covid viral concerns. Required: (3) (b) (C) ((1) Explain the term \"costs" and differentiate costs from expenses. In the context of the hotel industry, give four (4) examples of costs. (12 marks) Discuss why in the study of management accounting, so much attention is focused on costs and efciency and how the understanding of costs can help the hotel industry. (27 marks) Explain the meaning of cost objects. Give four (4) examples of cost objects from the hotel industry. Explain why managers might be interested in knowing the costs. (2] marks) When analysing cost behaviour, discuss the meaning of\"level of activity\". Givermr (4) examples of activity in the hotel industry. \"v (10 marks) Answers for Question 1 must not exceed [.500 words. Question 2 The following data refer to Green Food Technology Ltd for the current year: Sales $3,200,000 Raw material inventory, 1 January 80,000 Purchases of raw material I,000,000 Direct labour cost incurred 700,000 Other selling and administrative expenses 120,000 Indirect labour cost (60% for factory; 40% for selling & admin) 400,000 Other manufacturing expenses 150,000 Depreciation of building (80% for factory; 20% for selling & admin) 200,000 Depreciation of equipment (90% for factory; 10% for selling & admin) 160,000 Income tax expense 40,000 Indirect material used (all for factory) 30,000 Insurance on factory & equipment (70% for factory; 30% for selling & admin) 50,000 Electricity (75% for factory; 25% for selling & admin) 100,000 Work in process, 1 January 20,000 Finished goods inventOry, 1 January 50.000 The company uses normal costing and manufacturing overhead is applied at the rate of 120% of direct labour cost. During the year. the company has adopted the just-in-time inventory management. As a result, the company carry no inventories at the end of the year. Required: (3) (b) (C) (d) (6) (f) (s) Compute the manufacturing costs incurred for the current year. (3 marks) Compute the cost of goods manufactured (COGM) for the current year. (1 mark) Calculate the manufacturing overhead variance. (5 marks) Compute the cost of goods sold (COGS) if the company closes overapplied or underapplied overhead cost into the cost of goods sold. (3 marks) Calculate Green Food Technology Ltd's net prot for the year. (6 marks) It has also been established that raw materials and direct labour are variable costs while the rest of the costs are xed costs. Use your answer obtained from (a) above, compute the cost of goods manufactured and the cost of goods sold assuming that Green Food Technology Ltd had decreased its production and sales in the current year by 10%. (7 marks) Use the results computed in (t). analyse the impact on the COGS.