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QUESTION 1 PART A -COMPULSORY SECTION 4 - COMPULSORY Question [20 Macks] PARTA [13 Marks] ARG Inc manufactures and sells a single product. The following data have been extracted from the current year's bude Sales and production (units) 5.000 Variable cost per un $50 Fixed cost per unit $70 Contribution margin ratio 75% The sellmg price per unit for next year is to be 8% above the current year's bulgeted figure, whereas both the variable cost per unit and the total fixed costs are forecast to increase by 12% above their budgeted level in the current year The target for next year is that total profit should remain the same as that budgeted for the current year. Required: a) Calculate the CURRENT YEAR budgeted i Contribution per unit, [2 marks] Total profit [3 marks] m. Breakeven point in units [2 marlo b) Calculate the number of units the company should produce and sell next year to achieve a target profit of $100,000 16 marks] A B I s I 3 E III QUESTION 1 B COMPULSORY Question 1 Continued 7 Marks PART B 17 Marks) Explain, with an example, the term semi-variable (mixed) cost. Identify TWO (2) main differences between process costing and job costing 1 [3 marks] 14 marks