Question 01 i. Cost is classified on the basis of behaviour as fixed cost, variable cost and semi-variable cost. You are required to explain these 3 elements of cost with an example in an engineering organization. (06 Marks) ii. Explain the following terms with an example a) Sunk Cost b) Cost Unit c) Cost Centre (09 Marks) iii. Explain in brief why product costs are computed in different ways for different purposes (10 Marks)