Question 1 a) What information is conveyed by a cost volume profit (CVP) graph in addition to a company’s break-even point? How does a CVP graph differ from a profit volume graph? (6 marks) b) Explain what safety margins means? How can managers use this information to manage the profitability of a business? (6 marks) Question 2 a) Distinguish between operating budgets and financial budgets. Explain this within the context of formulating the annual budget for a UCTS cafeteria. (8 marks) b) …
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