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1.Explain the following: fixed cost, variable cost, sunk cost, relevant cost, and opportunity cost. Give an example of each. 2.Explain what the contribution margin is

1.Explain the following: fixed cost, variable cost, sunk cost, relevant cost, and opportunity cost. Give an example of each.

2.Explain what the contribution margin is and how it can be expressed.

3.Make a list of formulasthat are related to CVP.

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