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ACCT Exam 3
Terms in this set (14)
Costs that do not change in total over wide ranges of volume
Technique that estimates profit or loss results when conditions change.
The sales level at which operating income is zero.
Margin of safety
Drop in sales a company can absorb without incurring an operating loss.
Combination of products that make up total sales.
Net sales revenue minus variable costs.
Describes how a cost changes as volume changes.
Costs that change in total in direct proportion to changes in volume.
The band of volume where total fixed costs and variable cost per unit remain constant.
Variable cost per unit =
(highest cost - lowest cost) / (highest volume - lowest volume)
Total fixed cost =
total mixed cost - (variable cost per unit x number of units)
Total mixed cost =
(variable cost per unit x number of units) + total fixed cost
Unit contribution margin =
net sales revenue per unit - variable cost per unit
Contribution margin ratio =
contribution margin / net sales revenue
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