CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 15-1 Cost Characteristics That Influence Decisions.

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Presentation transcript:

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 15-1 Cost Characteristics That Influence Decisions

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 2 LESSON 15-1 ABBREVIATED INCOME STATEMENT page 445

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 3 LESSON 15-1 Cost of Merchandise Sold Total Cost ÷Units Sold= Cost of Merchandise Sold Total Cost $118, ÷ 36,000 = $3.30 CALCULATING COST OF MERCHANDISE SOLD UNIT COST page 445

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 4 LESSON 15-1 VARIABLE COST CHARACTERISTICS page 446

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 5 LESSON 15-1 FIXED COSTS page 446

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 6 LESSON 15-1 GROSS PROFIT INCOME STATEMENT page 447

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 7 LESSON 15-1 CONTRIBUTION MARGIN INCOME STATEMENT page 447

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 8 LESSON 15-1 CONTRIBUTION MARGIN PER UNIT page 448 Total Contribution Margin ÷Units Sold= Contribution Margin per Unit $27, ÷ 36,000 = $0.75

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 9 LESSON 15-1 TERMS REVIEW total costs unit cost variable costs fixed costs contribution margin page 450