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Bus 202
Chapter 19 Glossary
| Question | Answer |
|---|---|
| Absorption costing | A costing approach in which all manufacturing costs are charged to the product |
| Cost Structure | The relative proportion of fixed versus variable costs that a company incurs |
| Degree of operating leverage | a measure of the extent to which a company's net income reacts to a change in sales. It is calculated by dividing contribution margin by net income |
| Operating leverage | The extent to which a company's net income reacts to a change in sales. Operating leverage is determined by a company's relative use of fixed versus variable cost |
| Sales mix | The relative percentage in which a company sells its multiple products |
| Theory of constraints | A specific approach used to identify and manage constraints in order to achieve the company's goals |
| Variable costing | a costing approach in which only variable manufacturing costs are product costs, and fixed manufacturing costs are periods cost (expenses) |
Created by:
cammccarty
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