Cost Ch. 3 Notes

The quantity of output sold at which total rev. = total cost.

Breakeven point
An objective that can be quantified.

Choice criterion
Income statement that groups costs into variable and fixed costs.

Contribution margin income statement
The difference between total revenue and total variable cost

Contribution margin
Graph that shows how changes in the quantity of units sold affect op. income.

PV (profit volume) graph

Author

Dbadams94

324023

Card Set

Cost Ch. 3 Notes

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4308

Updated

2016-10-04T04:22:38Z

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