Chapter 3

  1. Define Total Costs
    All costs for a specific period of time.
  2. Define Unit Cost
    The amount spent for one unit of a specific product or service.
  3. Define Fixed Cost
    Total costs that remain constant regardless of changes in business activities.
  4. Define Variable Costs
    Total costs that change in direct proportion to a change in the number of units.
  5. Define Contribution Margin
    The difference between net sales and total variable costs.
  6. Define Breakeven Point
    The amount of sales at which net sales is equal to total costs.
  7. Define Sales Mix
    Relative distribution of sales among various products.
Card Set
Chapter 3
Chapter 3, Cost, Price, And Volume Analysis Terms