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Explain the following items: 1. Why is CVP analysis useful and is it an important concept in managerial accounting? 2. Effect of change in fixed

Explain the following items: 1. Why is CVP analysis useful and is it an important concept in managerial accounting? 2. Effect of change in fixed cost on Breakeven point? 3. Change in unit variable cost on the contribution margin? 4. Contribution Margin Ratio. 5. Margin of Safety. 6. What is the formula for Break-even point in Units? 7. Operating Leverage. 8. Variable/Absorption costing

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