Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Cost accounting_McGr

Cost accounting_McGrawHill_What_the_numbers_mean_Ch12.txt

QuestionAnswer
The amount of revenue required to have neither operating profit nor operating loss. break-even point
The difference between revenues and variable costs. contribution margin
An income statement format in which variable costs are subtracted from revenues to show contribution margin, from which fixed costs are subtracted to determine operating income. contribution margin format
The ratio of contribution margin to revenues. contribution margin ratio
Identification of whether a cost is fixed or variable. cost behavior pattern
An algebraic expression that reflects the fixed and variable elements of a cost. cost formula
Analysis of the impact on profit of volume and cost changes using knowledge about the behavior pattern of the costs involved. cost-volume-profit (CVP) analysis
A cost that does not change in total as the level of activity changes within the relevant range. fixed cost
The activity level that produces the same total cost when two different cost formulas or cost structures exist. indifference point
Planning, organizing, and controlling the activities of an organization so it can accomplish its purpose. management process
Accounting that uses economic and financial information to plan and control many of the activities of the entity and to support the management decisionmaking process. managerial accounting
The concept that operating income changes proportionately more than revenues for any given change in the level of activity. operating leverage
Expected or allowed times and costs to make a product or perform an activity. production standard
The range of activity over which the fixed or variable cost behavior pattern exists. relevant range
The proportion of total sales represented by various products or categories of products. sales mix
A cost that has both fixed and variable elements. semivariable cost
A cost that changes in total as the volume of activity changes. variable cost
Created by: 1021501828
Popular Accounting sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards