The following information relates to questions 3 and 12 You are the cost accountant of Prime Steel Technologies (Pty) Ltd and you are busy accounting for various costing activities such as direct and indirect material, inventory valuation, EOQ, absorption rates, and assigning service costs. Answer questions 3 to 8 below. Question 8 1 pts When stock is held for financial reasons such as an anticipated substantial rise in stock price, it is referred to as? O A. Buffer stock O B. Safety stock O C. Speculative stock O D. Normal stock Question 10 1 pts Which of the following is an example of administrative cost within a manufacturing Enterprise? O A. Salaries of factory equipment OB. Depreciation of office equipment OC. Factory rent D. Delivery vehicle instalment Question 11 1 pts With reference to accounting for steel processing operations in your company, steel purchased for production purposes is an example of? A. Finished goods OB. Factory overheads OC. Work-in-process OD. Direct materials Question 12 1 pts To which of the following accounts will all indirect manufacturing costs be posted to? A. Manufacturing overheads account OB. Work in process account C. Direct labour account D. Direct material account