Question: Section A - Short Answer Questions - Answer any THREE (3 x 2 marks = 6 marks) 1. Distinguish between a Merchandisers Income Statement and

Section A - Short Answer Questions - Answer any THREE (3 x 2 marks = 6 marks) 1. Distinguish between a Merchandisers Income Statement and a Manufacturing Companies Income Statement. (2 marks) 2. Why do companies use predetermined manufacturing overhead rate and What adjustment is made for over applied overhead? (2 marks) 3. Explain the flow of costs in a process cost system. (2 marks) 4. Cost-volume-profit (CVP) analysis is based entirely on unit costs." Do you agree? Explain. (2 marks)

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Section A - Short Answer Questions - Answer any THREE (3 x 2 marks = 6 marks) 1. Distinguish between a Merchandisers Income Statement and a Manufacturing Companies Income Statement. (2 marks)

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