ACCOUNTING 333 FINAL CONCEPTUAL COMPREHENSIVE AND NEW MATERIAL UPGRADED EXAM 2023/2024

ACCOUNTING 333 FINAL CONCEPTUAL COMPREHENSIVE AND NEW MATERIAL UPGRADED EXAM 2023/2024 contribution margin - CORRECT ANSWER-Revenue - Variable Costs contribution margin ratio - CORRECT ANSWER-Contribution Margin / Revenue breakeven point (units) - CORRECT ANSWER-total fixed costs / CM per unit breakeven point (revenue) - CORRECT ANSWER-total fixed costs / CM ratio target profit (units) - CORRECT ANSWER-(Target Profit + Total Fixed Costs) / CM per unit target profit (revenue) - CORRECT ANSWER-(Target Profit + Total Fixed Costs) / CM ratio margin of safety - CORRECT ANSWER-the excess of expected sales over breakeven sales net income - CORRECT ANSWER-Operating Income - Income Taxes impact of taxes on CVP analysis - CORRECT ANSWER-If target profit is after taxes then we need to have enough contribution margin to achieve our target profit plus pay our taxes Need to add tax cost into formula After-tax profit (NI) - CORRECT ANSWER-Before-tax profit × (1 - Tax Rate)