Is variable or absorption costing a better method of computing income from operations?  Why?

Which tool can be used to easily calculate the change in profit resulting from a change in sales price, sales volume, variable costs, or fixed costs?

Explain why changes in value-stream profitability may be better information than individual product cost for certain decisions.

Which of the following is NOT considered in cost-volume-profit analysis? Variable costs Fixed costs Opportunity costs Mixed costs

Compare and contrast the historical cost accounting model with the fair value accounting model. What are the advantages and disadvantages of each?

Which of the following is not an application of cost-volume-profit analysis? Setting prices for products and services. Performing strategic “what-if” analyses. Deciding whether to cut a product line. Determining the short-term cost or profit implications of many decisions. Deciding whether to make or buy a given product or service.

Identify two ways in which a contribution margin income statement differs in format from a traditional income statement. Which is more useful for decision making and why?

What concept relates to the proportionate savings in costs gained when levels of production are increased: A) Accounting profit. B) Economies of scale. C) Marginal costs. D) Barriers to entry. E) Economic profit. The benefit lost when choosing one option precludes receiving the benefits from an alternative option was referred to as: A) Irrelevant costs. B) Lost costs. C) Alternative costs. D) Opportunity costs. E) Sunk costs.

Which of the following would be considered as a limiting factor to maximize the profit? O a. Book value O b. Fixed cost Oc. Contribution d. Sales