Cost Ch. 3 Notes

  1. The quantity of output sold at which total rev. = total cost.
    Breakeven point
  2. An objective that can be quantified.
    Choice criterion
  3. Income statement that groups costs into variable and fixed costs.
    Contribution margin income statement
  4. The difference between total revenue and total variable cost
    Contribution margin
  5. Graph that shows how changes in the quantity of units sold affect op. income.
    PV (profit volume) graph
Author
Dbadams94
ID
324023
Card Set
Cost Ch. 3 Notes
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Updated