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Ch7note (2).docx

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Department
Accounting
Course
ACTG 2010
Professor
All Professors
Semester
Fall

Description
Retardedly Complicated Chapter 7 in a Three Page NoteIn Chapter 7 there are SEVEN things you need to know how to calculate1Contribution Format Income Statement2CostVolumeProfit CVP Graph3Contribution Margin Ratio CM Ratio4Break Even Point5Target Profit6Margin of Safety7Operating LeverageLets go through them one at a time1 Contribution Format Income StatementUsually youll be given one of these at least partially filled in but just in case you need to make one from scratch its justTotalPer Unit of SalesSalesPer Unit SalesGiven100Number of UnitsVariable Cost VCPer Unit VCNumber GivenTotal VCTotal Salesof UnitsContribution Margin Total SalesTotal Sales Per UnitVC CMTotal SalesCMVariable CostPer UnitFixed Costs FCGivenOperating Income CMFCOINumber of units is usually givenThe difference between Operating Income and Net Income is that Operating Income is before taxes and Net Income is after taxes2 CVP Graph1
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