The directors of Sec Co are carrying out an impairment review of the company’s non-current assets for the financial statements for the year to 31 October 2010. They have the following information about a particular asset:

Carrying amount (at 1 November 2009)$380,000

Depreciation charge for year to 31 October 2010$76,000

Market value$285,000

Expected costs of selling$20,000

Value in use$250,000

What carrying value should be included in the statement of financial position at 31 October 2010?

A division manufacturing a single product which sells for $325 has the following unit cost structure:

$

Direct materials95

Directlabor78

Variable overheads56

Share of fixed costs45

Total cost274

In the coming period, the budgeted production volume is 10,000 units.

What is the budgeted breakeven sales volume (to the nearest unit)?

Which of the following comments about sales price is correct?