1a- (3 Marks: a1:3): Identify the correct Alternative Budgeted cost is:.. 1. a. A cost that has incurred b. A cost that will incur C. A predicted cost d. None of the above. will almost never equal budgeted costs 2. a. Indirect cost b. Nominal cost C. Actual cost d. None of the above 3. There are a. Five b. Seven C Nine Time left 1:52:26 main guidelines for refining a costing system d. None of the above Time left 1:52:10 4. Budget sector Manufacturing sector a. b. C. d. Service sector. Merchandising sector sell tangible products without changing their form. 5. In a product or service. a. ABC costing Process costing the cost object is masses of identical or similar units of a b. C. Simple costing d. All of the above 6. costs. a. Direct cost is a term referring to direct labor and indirect manufacturing b. Conversion cost C. Prime cost d. All of the above. Time left 1:51:57 Q1b-(2 Marks: a1:2): Give four points of differences between Simple Costing and Activity Based Costing(2M)