(a) Briefly explain the MAIN difference between variable costing and absorption costing in terms of the treatment of costs in the financial statements.

(b) Explain why the variable costing income measurement approach would be attractive to a manager who is interested in projecting her firms future profit performance.

(c) List 3 bank fees or service charges and furnish at least 4 reasons as to whether these fees are fair, unfair, reasonable or unreasonable to clients of the bank.