What do you mean by marginal costing? What are its merits and demerits?
Describe the concept of contribution. How it associated to profits?
How are variable and fixed costs treated in the marginal costing?
Illustrate PN ratio and Margin of Safety? Describe their uses.
Illustrate the term profit planning? Draw a break-even chart.
Describe the practical uses of the marginal costing.
Define the term marginal costing. Is it possible or desirable at times to decrease selling price below total cost. If yes, narrate the conditions wanting such action.