(a) Discus the importance of the following in relation to break-even analysis: (1) Break-even point (2) Margin of safety (3) Contribution (4) Profit volume ratio. (b) Write a short note on the...

(a) Discus the importance of the following in relation to break-even analysis:

(1) Break-even point

(2) Margin of safety

(3) Contribution

(4) Profit volume ratio.

(b) Write a short note on the angle of incidence in a break-even chart.