s 1. 2. Explain whether a business department can be a cost object. Give an example for each of the following: A cost that is variable and direct, a cost that is variable and indirect, a cost that is fixed and direct, and a cost that is fixed and indirect. 3. 4. Why and when is it essential to calculate a unit cost? Inventoriable costs are usually associated with the manufacturing firms whilst period costs are mainly for trading firms. Discuss. 5. Explain how overtime premium and idle time affect labor costs. 6. Define product cost. Describe three different purposes for computing product costs. 7. Explain three common features of cost accounting and cost management and their applications