Question Two Cost classification is the logical process of categorising the different costs involved in a business process according to their type, nature, frequency and other features to fulfill accounting objectives and facilitate economic analysis. a) Critically evaluate cost classification based on variability and controllability, supporting your explanation with reference to the specific costs in any business organisation of your choice. b) Extensively compare and contrast the variable cost and semi-variable cost diagrams Question Three a) XYZ Nigeria Limited, a small company engaged in the production of plastic tools, is considering the use of either day or piece rate for labour remuneration. i. Explain the salient considerations in utilising either rates and ii. Suggest the most suitable one for the company. Justify your opinion. b) A skilled worker is paid a guaranteed wage rate of N150.00 per hour. The standard time allowed for a job is 50 hours. He gets a bonus pay of N750 under Hasley premium scheme due to saving in time. For the same saving in time, calculate his bonus and effective hourly rate of wages he will get, if he is placed under Rowan Incentive Plan