Indicate what contribution margin is and how it can be expressed.
Distinguish between variable and fixed costs.
Explain the significance of the relevant range.
Explain the concept of mixed costs.
List the five components of cost-volume-profit analysis.
Indicate what contribution margin is and how it can be expressed.
Identify the three ways to determine the break-even point.
Give the formulas for determining sales required to earn target net income.
Define margin of safety, and give the formulas for computing it.