Identify and explain ONE (1) of the six common cost classifications used in a manufacturing business.

Explain why a business using a cost leadership business strategy would have different management accounting information requirements to a business using a product differentiation business strategy.

Identify and discuss ONE (1) advantage and ONE (1) limitation of Kilmarnock using income as a basis to allocate overheads to jobs.

Explain, using appropriate examples, the significance of equivalent units in a process costing environment.

Identify and discuss TWO (2) factors that need to be considered when managing a justin-time (JIT) inventory system.