What Are Some Different Types of Social Policies? Describe the Differences

question 39

Essay

What are some different types of social policies? Describe the differences between contributory and noncontributory programs,and give examples of both.What are some current concerns regarding social policy spending?

---

Definitions:

Variable Costing

Variable Costing is an accounting method that only assigns variable costs to inventory, treating fixed costs as period expenses.

Contribution Margin

The amount remaining from sales revenue after variable costs have been deducted, indicating how much contributes to covering fixed costs.

Total Gross Margin

This is the difference between sales revenue and the cost of goods sold, before deducting administrative and selling expenses.

Absorption Costing

An accounting method that includes both variable and fixed production costs in the cost of goods sold.