Differences between management accounting and financial accounting. Break even chart. Analytical discussion on break even chart. (Marks:15) Six operation budgets provided and importance discussed. 5x6 (Marks:30) Variance analysis: • Material variances • Labour variances (Marks:4) • Variable overhead variances (Marks:4) • Sales variances (Marks:4) • Analytical discussion on the importance of each variance. Management Accountants are more involved in financial planning rather than historical accounting.You are required to:1. Analytically discuss how management accounting varies from financial accounting. 2. Analytically discuss the importance of break-even analysis with the help of a break-even chart. 3. Evaluate the importance of any six operational budgets for a limited company. 4. Discuss analytically the importance of variance analysis as a cost controlling and decision making tool.