Refer to the exhibit.

A machine costing $47,000 will generate the following accounting profits:
The annual charge for depreciation is $9,000.
The cost of capital is 12%.
The net present value of the investment in the machine is:

C Ltd produces a chemical in a single process. Information for this process last month is as follows:
(a) Opening work in progress - 10000 kg valued at £10000 for direct material and £7500 for conversion costs.
(b) Materials input - 25000 kg at £1.10 per kg.
(c) Conversion costs - £17000
(d) Output during the month - 23000 kg.
(e) There were 7500 units of closing work in progress which was complete as to materials and 30% complete as to conversion.
(f) Normal loss for the month was 10% of input and all losses have a scrap value of 80p per kg.
What was the average cost per kg of finished output during the month?

Which of the following statements about batch costing is true?

SP Limited operates an absorption costing system. It uses a predetermined overhead absorption rate based on machine hours. Budgeted factory overheads for the year were £1,080,000 but actual overhead incurred was
£1,046,000. Budgeted machine hours were 120,000 and actual machine hours were 119,000.
Overheads for the period were.

A budget that is continuously updated by adding a further accounting period when the earliest period has expired is known as: