SHORT QUESTIONS (03 Marks) 1- Molding department of a manufacturing firm has completed 1500 units and transferred to the finishing department. In finishing department 1300 units completed and transferred out. In process units are 100% complete as to material and 70 % as to labor and overhead. Prepared quantity schedule for finishing department? 2- The cost accountant of Cimat Limited has acquired the following information to prepare direct Labor cost budget: Labor hours required to produce one unit = 2.5 hours Labor rate per hour = Rs. 50 Calculate the estimated cost of direct labor to produce 3600 units by keeping in view the above-mentioned information. 3- “Flexible budget” is designed in such a way that the budget cost for any activity level is available. You are required to mention