Question 2 - Decision Making - Limiting Factors Ghastly Bespoke plc is a manufacturer of tailor-made clothing. They produce three different types of suits: High-quality wool suits, Standard three-piece suits, and Economy suits. Estimated suit sales, production and usage for the next period are as follows: High-quality Standard Available Economy wool three-piece Labour 21,000 hours Wool 500 meters 2,000 (80 hours) 120 1,250 (50 hours) 500 (20 hours) (5 meters) Tweed 1,250 meters 100 (5 meters) Polyester 1,000 meters 30 Lining 2,500 meters 15 15 (3 meters) 9 (5 meters) (5 meters) (3 meters) Buttons 6,000 buttons 34 22 10 (17) (11) (5) Thread 1,500 spools 12 9 3 4 spools 3 spools 1 spool Variable overheads 250 100 200 overheads Total variable Fixed overheads absorption Total cost per suit Selling price per suit 2,431 1,496 752 300 250 150 2,731 1,746 902 3,500 2,000 1,000 75 suits 200 suits 350 suits Sales demand Required: a) Calculate the production quantities that will maximise profits of Ghastly Bespoke plc in the following period. [20 marks] b) Explain, with reference to your answer to the Bespoke scenario, the accounting information needs of managers, and its role in planning. [5 marks]