Question for classroom or small-group discussion. Now that we have studied different kinds of costs and the systems used to accumulate them, let’s think about how these concepts might apply in the social media industry. Suppose you are the CFO (chief financial officer) of Facebook, Twitter, Instagram, or any other social media company. What kinds of costs do these companies incur? Are there labor, material, and overhead costs? Direct and indirect costs? Fixed and variable costs? What are the types of services produced by social media companies? And how do the costs these companies incur relate to the services they generate?