ZOOM + Acctg 1B - Chapter 19 Discussion Questions 1. Define the following terms (The chapter defines terms based on context. Therefore, definitions must be based on the chapter content. Do not use the end of textbook Glossary to define the following terms. Locate the terms in the chapter.) a. Fixed Costs b. Variable Costs c. Contribution Margin d. Contribution Margin Ratio e. Breakeven Point f. Operating Leverage 2. What is another name for the Contribution Margin Income Statement? 3. Explain the differences between a Contribution Margin Income Statement and a Conventional or GAAP Income Statement. 4. CVP analysis is based on assumptions. What does CVP analysis assume with respect to: a. Sales price per unit b. Variable cost per unit c. Relevant range of operations d. Estimates