There are 7 questions. I need answers for all. I need calculations and all details.

1. What is the Pareto principle? Consider a software product with several defects. How can the Pareto principle be used to form a most effecting approach to fix the defects? (10) 2. Using an example (from outside the book), explain the inventory accounting methods LIFO, FIFO and weighted average and their impact on taxes and the net income. (10) 3. A company needs to buy a car for business purpose. It can buy a car for $25000 that will be used only for 3 years and then can be sold for $5000. Otherwise, the company can also lease the car for a 3-year term, for a payment of $10,000 per year (paid at the beginning of the year). If company's interest rate is 10% p.a. which option has a better NPV? (10) 4. What is the importance of benchmarks? For a company measuring the effectiveness/benefits of a new technology on a manufacturing process, suggest what benchmarks it should consider. Also suggests 3 measurements that it should undertake to implements controls in this manufacturing process to track the advantage of the new technology. (10) 5. Purely on the basis of financial considerations, calculate the present value of a graduate (Masters) degree from ITU. You may assume the following: (15) a. It takes 2 full years (6 trimesters) for completion of the degree program. b. You may assume any representative rate of tuition per unit that doesn't change for the 2 years duration. You can assume that you can borrow money for the tuition at the rate of 8% p.a. c. You may consider (for the present value calculations purpose) 3 years of full time job at some representative annual salary (you can use annual salary for calculation instead of monthly.) - received at the end of 3rd, 4th and 5th years. d. 6. Assume the discounting rate to be the same as rate of borrowing (8%). Explain the difference between the straight line and declining balance methods of depreciation. Assuming a declining balance rate of depreciation of 20%, if an asset has a book value of $49152, at the end of 3rd year, calculate its original purchase price and its salvage value at the end of its life of 10 years. If straight line depreciation was used for the same asset for the same life span of 10 years, find out the year when the asset's book value calculated by declining balance method is more compared to the straight line method. (15) 7. A manufacturing company produces two products A, and B. The fixed factory monthly overhead is $60,000, comprising of $10,000 for material handling, material wastes and procurement (allocation basis: material cost), $20,000 for rent (allocation basis: product units), $10000 for utilities (allocation basis: product labor hours), and $20,000 for supervision and security (allocation basis: product units). Other applicable data are shown in the table below. Determine the product cost for products A, and B, using the Activity Based Costing (ABC) method. (10) Number of Units Produced Per Month Total Material Costs Per Month ($) Labor Hours Per Unit (hr) Labor Rate Per Unit ($/hr) Machine Hour Per Unit (hr) Product A 400 Product B 900 8000 4000 5 20 1.5 2 30 3