Question 1: A student planning a career in business management wondered why it was important to leam cost and management accounting. How would you respond? Give some examples to support your point of view. Question 1: A company reapportions the costs incurred by two service departments ( S1 and S2) to other two production departments (P1 and P2). The following are the overhead costs which have been allocated and apportioned to the four departments: Estimates of the benefits received by each cost department are as follows: Page 1 of 2 Required: 1. a. Prepare a schedule allocating the service department costs to the production departments using the direct allocation method. b. Prepare a schedule allocating the service department costs to the production departments using the sequential allocation method. 2. Explain the differences between service and production departments. Give three examples for each. Issue date: Friday 17th February 2023 Submission Deadline: Sunday 26 th February 2023 at 11:59 PM Submission method: You must upload your work on blackboard by the deadline. Your work should be uploaded in word or pdf format. Do not upload picture or any format that cannot be downloaded for grading. Work sent by email will not be graded