A company's markets are affected by fluctuating exchange rates. It is difficult to forecast more than two or three months ahead.
Which of the following budgeting systems would be most useful in this company's circumstances?

Which THREE of the following are functional budgets?

Which TWO of the following statements are true for obtaining a reliable forecast from a time series?

A company is forecasting its revenue for May and has established that sales will be either high, medium or low. The expected value of sales revenue for May has been calculated as $160,000. The following table includes data which relate to the potential sales in May.
Revenue Probability Expected Value
High $250,000 0.2 C
Medium A 0.5 D
Low $100,000 B $30,000
Place the figures given in to the spaces marked with the letters A, B, C and D, to complete the above table.

The performance of a production manager is assessed on efficient use of materials during the production process.
Actual data and data from the fixed budget for Month 4 are as follows:

What figures should be compared in order to assess the production manager's performance for Month
4?