What is meant by a product’s contribution margin (CM) ratio? How is this ratio useful in planning business operations? (+/- 250 words) Essay 2.Critically evaluate the benefits and limitations of C-V-P analysis

Essay 1.What is meant by a product’s contribution margin (CM) ratio? How is this ratio useful in planning business operations? (+/- 250 words) Essay 2.Critically evaluate the benefits and limitations of C-V-P analysis?(+/-500 words) Essay 3.What is the basic difference between absorption costing and variable costing? (+/- 300 words)Essay 4In what fundamental ways does activity-based costing differ from a traditional method of absorbing overhead costs. (+/- 400 words) Essay 5Explain the main objectives of preparing budgets and critically evaluate the statement: “The sales budget is the foundation of all other budgets”. (+/- 300 words)Essay 6.Discuss six behavioural aspects of budgeting. (+/- 450 words) Other instructions for all essays:The writer should demonstrate both knowledge and understanding of the costing and budget approaches within theoretical viewpoints. The response should attempt to incorporate a discussion through relevant academic referencing, rather than overly describing the model and should be referenced as per Harvard referencing requirements.