Question: Trying to make a study guide/quizlet for a test coming up, any definitions? 1. When output volume increases, do variable cost per unit increase, decrease,

Trying to make a study guide/quizlet for a test coming up, any definitions?

1. When output volume increases, do variable cost per unit increase, decrease, or stay the same within the relevant range of activity? Explain.

2. In your own words, describe Contribution Margin Ratio and Contribution Margin per unit.

3. In your own words, describe Margin of Safety.

4. In your own words, describe Target Income

5. List 3 methods to to measure cost behavior.

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