QUESTION 3 (30 MARKS) A. Explain briefly the changing role of management accounting prior 1950s until the beginning of the twenty first century. B. An extract of a standard cost card shows the following details of product M: Variable overheads: 5 machine hours at RM10 per machine hour Fixed overheads (15 marks) RM per unit 50 30 The actual production of Product M for May amounted to 6,500 units and the budgeted production planned for was 7,000 units. The machines actually worked for 35,000 machine hours. The actual overheads incurred were: Variable overheads Fixed overheads Required: Calculate the following: i. RM270,000 RM190,000 Variable overheads expenditure variance (4 marks) ii. Variable overheads efficiency variance (4 marks) iii. Fixed overheads expenditure variance (3 marks) iv. Fixed overheads efficiency variance (4 marks)