BEC Decision Making review 3

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Joens1313
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300737
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BEC Decision Making review 3
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2015-04-13 22:43:52
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BEC Decision Making review
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BEC Decision Making review 3
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  1. What does CVP stand for?
    Cost Volume Profit Analysis
  2. The -------------------------- is concerned with the effect upon operating income of various decisions regarding sales and costs.
    The Cost Volume Profit Analysis is concerned with the effect upon operating income of various decisions regarding sales and costs.
  3. The -------------------------------- is managements study of the relationship amount cost volume and profit.  It is used in planning controlling and evaluating the incremental impact of business decisions.
    The Cost Volume Profit Analysis is managements study of the relationship amount cost volume and profit.  It is used in planning controlling and evaluating the incremental impact of business decisions.
  4. What is the break even point?
    The break even point is the intersection of sales and total costs.
  5. The --------------------- is the intersection of sales and total costs.
    The break even point is the intersection of sales and total costs.
  6. The -------------------------------- at any level of output is the vertical difference between the sales line and the variable costs line.
    The contribution margin at any level of output is the vertical difference between the sales line and the variable costs line.
  7. The --------------------- is defined as the point where net income equals zero.
    The break even point is defined as the point where net income equals zero.
  8. the margin of safety can be defined as the excess of budgeted sales over the break even volume of sales.
    the ---------------------- can be defined as the excess of budgeted sales over the break even volume of sales.

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