Question 2 You are employed by Casey & Co. a firm of Certified Public Accountants based in Wexford. The firm has recently been engaged by a small manufacturing company to provide advice and recommendations to improve the company's costing system. The managing director of the manufacturing company is particularly interested in implementing standard costing. REQUIREMENT: Draft a memorandum for your client that: (a) Outlines the purposes of standard costing; AN (7 marks) (b) Describes how a standard costing system operates. AN(8 marks) (c) Outlines FOUR factors that influence a company's demand for management accounting information AP(5 marks) [Total: 20 Marks Question 2 You are employed by Casey & Co. a firm of Certified Public Accountants based in Wexford. The firm has recently been engaged by a small manufacturing company to provide advice and recommendations to improve the company's costing system. The managing director of the manufacturing company is particularly interested in implementing standard costing. REQUIREMENT: Draft a memorandum for your client that: (a) Outlines the purposes of standard costing; AN (7 marks) (b) Describes how a standard costing system operates. AN(8 marks) (c) Outlines FOUR factors that influence a company's demand for management accounting information AP(5 marks) [Total: 20 Marks