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What is meant by a product’s contribution margin (CM) ratio? How is this ratio useful in planning business operations?

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 4
In what fundamental ways does activity-based costing differ from a traditional method of absorbing overhead costs.
(+/- 400 words)

Essay 5
Explain 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.