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Question 1 Differentiate between contract costing and service costing. Provide your answer in tabular form with three differences. (6 marks) List five (5) industries which
Question 1
- Differentiate between contract costing and service costing. Provide your answer in tabular form with three differences. (6 marks)
- List five (5) industries which are most likely to apply contract costing in their operations.
(10 marks)
- In a tabular form, provide two (2) similarities and two (2) differences each between Activity Based Costing (ABC) method and the Traditional method of charging overheads. (8 marks)
- How different in management accounting from cost accounting? Provide a brief commentary in two paragraphs. (4 marks)
TOTAL MARKS (28 MARKS)
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