Question: QUESTION 1 [25 MARKS] Costing systems attempt to explain how products consume resources but do not indicate the joint benefits of having multiple products. Required:

QUESTION 1 [25 MARKS] Costing systems attempt to explain how products consume resources but do not indicate the joint benefits of having multiple products. Required: Citing examples of at least two costing systems, a. Explain the statement above. (4 marks) b. Explain how the addition of a new product to the product range may affect the cost of existing products. (10 marks) c. Outline the consequences, in terms of profitability, of decision to increase/decrease the product range. (5 marks) d. Identify six costing systems. (6 marks)

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