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4 marksNature and Framework of Cost and Management Accounting

CAPE Accounting Unit 2 · 2019 · Paper 2 · Question 1(a)

Module 1 Costing Principles. Questions related to accounting differences, cost classifications, and preparation of manufacturing accounts.

State TWO differences between 'financial accounting' and 'management accounting'.

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  1. 1(b)Explain 'product cost' and 'period cost', giving ONE example of EACH.[6 marks]
  2. 1(c)(i)Prepare the manufacturing account for the year ending 31 March 2019.[21 marks]
  3. 1(c)(ii)Silver Slipper Ltd had the option of purchasing items rather than making them. Distinguish between 'relevant costs' and 'irrelevant costs', giving ONE example…[4 marks]

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