Question 1- 10 marks Bbudgeting can be seen as a process of planning, monitoring and control. Explain the benefits of budgeting.( 10 marks) Question 2-40 marks non- Sanyo Company produces programmable and programmable calculators and operates at capacity. The following data are presented for your use: Programmable Non-programmable Annual production in units 50,000 100,000 Direct materials costs $ 150,000 $ 300,000 Direct manufacturing labor $ 50,000 $100,000 costs Direct manufacturing labor 2500 5000 hours Machine-hours 25,000 50,000 Number of production runs- 50 50 set-ups Inspection hours 1000 500 Manufacturing overheads are as follows: Total for Overhead cost pool both products Machining costs $ 375,000 Setup costs 120.000 Inspection costs 105,000 Required 1-Choose a cost driver for each overhead cost pool and calculate the manufacturing overhead cost per unit for each product.(20 marks) 2-Compute the manufacturing cost per unit for each product.(15 marks) 3-How does the activity-based costing system help Sanyo's managers to better manage their business.(5 marks) Question 3-10 marks What are the factors that shape the culture of an organization? (4 marks) Explain briefly the four models of culture according to Handy (6 marks) Question 4-40 marks Assume you have a product with the following parameters: Annual demand= 360 units Holding cost per year 1 $ per unit Ordering cost = $ 100 per order Requirement: 1-What is the EOQ for this product ( 7.5 marks) ?. 2- What is the total holding and ordering costs ( 7.5 marks) ? 3-Given the above data , how many orders should be processed per year ( 5 marks) ? Assuming a 300 day work what is the expected time (days) between orders ( 5 marks)? 4-Based on the information from 1 to 3 above , what would the actual total holding and ordering costs be if the annual demand was actually higher than estimated i.e 500 units instead of 360 units , but the EOQ established in question 1 above is used ( 10 marks)? 5-If demand for an item is 3 units per day, and delivery lead time is 15 days , what would be the re-order point ( 5 marks)