Question 3 (a) Explain any TWO (2) differences between management accounting and financial accounting.

(b) Several costs are listed below.

(5 marks)

Required:

For each item above, indicate whether the cost is direct or indirect with respect to the cost object listed next to it. In your answer you only indicate the no. and whether it is direct or indirect. Eg. 1. Direct cost. (10 marks)

\begin{tabular}{|r|l|l|} \hline & Cost Description & Cost Object \\ \hline 1. & Supervisorswagesinacomputermanufacturingfacility & Aparticularpersonalcomputer \\ \hline 2. & Salaryofthepresidentofahomeconstructioncompany & A particular home \\ \hline 3. & Costoftonguedepressorsusedinanoutpatientclinicatahospital & The outpatient clinic \\ \hline 4. & Costoflubricationoilusedattheautorepairshopofanautomobiledealer & The auto repair shop \\ \hline 5. & Managerssalaryatahotelrunbyachainofhotels & The particular hotel \\ \hline 6. & Costofscrewsusedtosecurewoodtriminayachtatayachtmanufacturer & A particular yacht \\ \hline 7. & Accounting professor's salary & The Accounting Department \\ \hline 8. & Costofameaslesvaccineadministeredatanoutpatientclinicatahospital & A particular patient \\ \hline 9. & Costofelectronicnavigationsysteminstalledinayachtatayachtmanufacturer & A particular yacht \\ \hline 10. & Wood used to build a home & A particular home \\ \hline \end{tabular}