Question: Explain the following with relevant example: a. How does management accounting differ from financial accounting? Provide two (2) difference with relevant examples to support your

Explain the following with relevant example:

a. How does management accounting differ from financial accounting? Provide two (2) difference with relevant examples to support your explanations. (5 marks)

b. What is product cost? Provide relevant examples to support your explanations. (5 marks)

c. How does total manufacturing cost differ from cost of goods manufactured? Provide relevant examples to support your explanations. (5 marks)

d. Explain fixed cost with the support of a graph. Provide relevant examples to support your explanations. (5 marks)

e. Explain why direct labour are usually regarded as variable cost. Provide relevant examples to support your explanations. (5 marks)

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