• Topic: 

  You are asked to demonstrate your understanding of Cost Volume Profit (CVP) Analysis / Absorption Costing and Variable Costing. 

  The main concepts students will need to know and apply for chapters 18 & 19 are noted below.

  1. Apply algebraic knowledge to prepare a properly labeled CVP chart. 
  2. Compute breakeven by plotting data on a graph, by preparing a contribution margin income statement, and by using several different formulas.
  3. Compute a target income before or after taxes in terms of units or dollars.
  4. Compute a target income before and after taxes using composite units.
  5. Prepare a traditional income statement using absorption costing concepts.
  6. Prepare a contribution margin income statement using variable costing concepts.
  7. Understand the concept of contribution margin and contribution margin per unit.
  1. Understand the similarities and differences between absorption costing and variable costing.
  2. Convert a traditional income statement prepared using absorption costing concepts to a contribution margin income statement prepared using variable costing concepts.
  3. Convert an absorption costing income statement to a traditional income statement 
  4. Analyze special sales prices to determine whether or not to accept customer orders

  Assignment Part 1: 

  Between February 23 and March 3 (midnight): 

  Assume you are in upper management in a manufacturing company.  Use one of the 11 items listed above, write a brief narrative as to how you (the manager) would need to know about that particular concept to make decisions. In other words, how would your company benefit by knowing and applying the selected concept.  In your narrative, be sure to include a description of the concept in your own words to demonstrate you understand the concept.

  Your narrative comments should be brief, but no less than 75 words and no more than 150 words.  

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