Question: ACC 304 Module 2 Study Guide Chapter 3 Learning Objectives 1. Explain the features of cost-volume-prot (CVP) analysis. a. What is contribution margin? b. What

ACC 304 Module 2 Study Guide Chapter 3 Learning Objectives 1. Explain the features of cost-volume-prot (CVP) analysis. a. What is contribution margin? b. What is a contribution income statement? How and why is it different than a traditional absorption income statement? 0. What are the three ways to express CVP relationships? (1. What assumptions do we use when doing CVP? 2. Determine the breakeven point and output level needed to achieve a target operating income. a. What is breakeven? b. What is target prot? c. What is the formula for each of these? d. How are the formulas different? 3. Understand how income taxes affect CVP analysis

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