Question 1 (6 marks) In a manufacturing operation, costs can be divided into product costs and period expenses. (a) Explain the difference between product costs and period expenses. (2 marks) (b) Give two examples of costs classified as product costs. (2 marks) (c) Give two examples of costs classified as period expenses. (2 marks) Question 2 (6 marks) Distinguish between the concepts income and revenue. Support your answer by using an example to demonstrate the difference I (5 marks) Question 3 Discuss the role that journals, the ledger, debits and credits and the trial balance play in the traditional approach to recording transactions (events). (10 marks) Question 4 The following information relates to ABC Pty Ltd for the years ended 30 June Year 3 and Year 2 Year 2 Year 3