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QUESTION 2 Define the following concepts with relevant examples: a. relevant costs (10 marks) b. opportunity costs (5 marks) QUESTION 4 a. Explain i the

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QUESTION 2 Define the following concepts with relevant examples: a. relevant costs (10 marks) b. opportunity costs (5 marks) QUESTION 4 a. Explain i the Materials Price Variance. ii. the Materials Quantity / Usage Variance. iii. the Labour Rate Variance iv. the Labour Efficiency Variance. v. the Variable Overhead Rate Variancel (10 marks) b. Explain the uses of management accounting

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