Choose four of the terms/techniques listed below and for each one:

i) Explain the meaning of the term/technique

ii) Give two examples of its application.

ii) Explain some of the practical limitations of which users should be aware with regard to the term/technique.

Minimum 150 words of each term/technique

a) value chain analysis

b) marginal cost.

c) incremental budgeting

d) cost centre

e) equivalent units .

f) life cycle costing.