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SECTION B - SHORT ANSWER QUESTIONS Answer ALL questions in this section. [40 MAKKSI [14 Marks) 1. (a). Using appropriate examples differentiate between the following

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SECTION B - SHORT ANSWER QUESTIONS Answer ALL questions in this section. [40 MAKKSI [14 Marks) 1. (a). Using appropriate examples differentiate between the following terms. i. Fixed and variable costs ii. Marginal and absorption costing (b). Explain three advantages of Just-in-Time (4 Marks) (4 Marks) (6 Marks)

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