Question: Q.5 An organization cannot be profitable if it does not have a clear understanding of the difference between its fixed and variable costs. Why is

Q.5 An organization cannot be profitable if it does not have a clear understanding of the
difference between its fixed and variable costs. Why is this important for management? [4]
Q.6 Explain the Planning and Control Cycle [4]
Q.7 Why is it necessary to have a pre-determined overhead application
rate in manufacturing? [3]
Q.8 Assume you have just been hired as a management accountant at a manufacturing
plant, list some of the tasks you can be expected to perform [2]

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