1-Describe job order costing, process costing and activity-based costing. Provide examples of the type of companies that would use these costing methods (i.e., three company examples, one for each type of method).

2-Discuss the differences between relevant costs, opportunity costs and sunk costs. Provide examples with respect to how these costs pertain to incremental analysis.

3-Define a static budget and a flexible budget. Which is more useful for companies and why? How could you use variance analysis in your personal life for budgeting?