Q.5 An organization cannot be profitable if it does not have a clear understanding of the

difference between its fixed and variable costs. Why is this important for management? [4]

Q.6 Explain the Planning and Control Cycle [4]

Q.7 Why is it necessary to have a pre-determined overhead application

rate in manufacturing? [3]

Q.8 Assume you have just been hired as a management accountant at a manufacturing

plant, list some of the tasks you can be expected to perform [2]