$1)$ A process that yield one or more products is called a joint process and the products so produced are called joint products. The cost of such process is called joint cost. This joint must be allocated among the joints products to determine the final cost of each product. There are four methods of allocating this cost.You are required to illustrate only one of these methods with suitable numerical example.$(5$ Marks$)$

$2)$ Prepare Flexible budget with three levels of sales volumes. Sales in units at three levels, selling price per unit, variable cost per unit and the fixed cost are to be assumed by yourself.$(5$ Marks$)$