2 questions Question 1 (former exam question) a) Cost - Volume-Profit (C-V-P) and contribution (margin) are key management via accounting practices in managing the entity in the business world today. Required: 1. Draw a graph that illustrates the accounting form of cost volume profit analysis. Label each of the lines in your graph. Indicate the break-even point. 3 Marks II. Draw a new version of graph in I to show how things would look like when there is a change in fixed costs. You can choose either to increase or to decrease the fixed costs. 3 Marks III. Draw a new version of graph in I to show how things would look like when there is a change in variable costs. You can choose either to increase or to decrease the variable costs. 3 Marks IV. Draw a new version of graph in I to show how things would look like when there is a change in revenues. You can choose either to increase or to decrease the revenues. 3 Marks