Solution:
The order in which the budget should be prepared are Sales budget, Finished goods inventory Production budget, Purchase budget and Cash budget.

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Solution:
In activity based costing method implementation, an output unit level costs are classified as indirect costs. Indirect costs are costs used by multiple activities, and which cannot therefore be assigned to specific cost objects.

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Solution:
An approach in which company under-costs it's one product and over-costs at least one product is classified as product-cost cross subsidizing. Product-cost cross-subsidization is the strategy of pricing a product above its market value to subsidize the loss of pricing a different product below its market value.

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Solution:
In time rate system the workers are paid on the basis of hourly daily, weekly rate. Under this method of wage payment, the workers are paid the wages on the basis of time. In this system of wage payment, the workers are paid the wages on the basis of time as, per hour, per day, per week, per fortnight or per month etc.