1. Discuss how the concepts of job order or process costing would be more appropriate for a Law Firm type of business. Chapter 202. Contribution MarginIn your own words, explain what the Contribution Margin is (more than the formula), why it is important to know, and what it has to do with Incremental Decision Making. Chapter 213. Operational BudgetingDiscuss the relationship between the management functions of planning and controlling costs. Explain the benefits of using a budgeting process and how flexible budgets can assist in decision making. Chapter 234. BE THE MANAGERYou are the plant manager. You have recently implemented a bonus system for your employees that provides a 10% bonus for favorable variances. What are the potential benefits, costs, and ethical concerns of such a bonus system? Chapter 24
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