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(c) Concise Limited makes a component for one of the enginesthat it builds. It uses, on average, 2,000 of these components,steadily throughout the year. The component costs $16 per unit tomake and it costs an additional $320 to setup the productionprocess each time a batch of components is made. The holding costper unit is 10% of the unit production cost. The company makesthese components at a rate of 200 per week, and the factory is openfor 50 weeks per annum. Calculate the Economic Batch Quantity EBQ.(d) List and explain seven key purposes of a budgetingsystem. (e) Briefly explain any four (4) approaches tobudgeting
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