Define Cost-Volume-Profit Analysis ?
CVP analysis examines the behavior of total revenues, total costs, and operating income as changes occur in the units sold, selling price, variable cost per unit, or fixed costs of a product.
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Managerial Accounting
- Define Opportunity Cost.
- Can the constant in the cost function be used as an estimate for fixed cost (when calculating maintenance, etc.)?
- Describe the account analysis method for estimating a cost function.
- Name 4 approaches to estimating a cost function ?
- Describe three alternative linear cost functions ?
- What two assumptions are frequently made when estimating a cost function?
- Define Operating Leverage ?
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