QUESTION 3 a) In the preparation of a budget, there are some four essential elements of a budget, Discuss the essential elements to be considered in the preparation of a cash budget in a time of dwindling sales. [10 marks) b) Persistent deviation from budgeted revenue has led to many organizations establishing budgetary control department, explain with suitable examples the considerations necessary for controlling a budget in an Airline company of your choice. [10 marks) c) Explain in detail the budgetary related issues that can be a contributing factor in the collapse of Ghana Airways. [5 marks) TOTAL=(25 MARKS] QUESTION 4 a) As the purchasing officer of material B, you were given 12,000 cedi's to purchase 28 pieces of fine gloss paint for the painting of two-unit classroom block, explain the situations that caused a variance in price and outline how you would report and justify the unfavourable variance of 800 to your managing director at a management meeting. [10 marks b) Mr Bernard has 560,000 cedi's and he is confused as to purchase either a second hand Dell or Toshiba laptops with the same specifications, explain to him the implications of his decision assuming he decided to buy all 100 laptops of Dell brands, at a price 60 cedi's less the standard price, as a management accountant what conditions would cause such a decision to be taken, and would his decision be justified?. [10 marks) c) Considering the importance of standard costing in an organization, explain the difference in the application of standard costing in two manufacturing companies of your choice. [5 marks) TOTAL=125 MARKS]