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In preparing a business plan, one of the starting point is to compute costing of...

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Accounting

In preparing a business plan, one of the starting point is to compute costing of a unit of a product or a service.

(a) Discuss the relevance of costing of a unit of a product or service. (2 marks).

(b) Explain four advantages of costing in an enterprise. (4 marks)

(c ) Costing can also help you to determine the Break-Even-Point (B.E.P).

(i) State the formula for B.E.P. ( 2 marks).

(ii) What is the importance of B.E.P in business? (4 marks)

(d) Construct a costing matrix that is used in costing by an enterprise

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