1. List the 3 main types of costs and describe their cost behavior in terms of (a) Total Cost, and (b) Unit Cost. 2. When do you use the high-low method? What is the formula for the high-low method? 3. Describe in your own words the concept of contribution margin. 4. What is the formula to calculate Break Even Point in Units? 5. What is the formula to calculate Break Even Point in Dollars? 6. If a companys goal is to make a profit, why do we calculate break even point first? What is the importance of break even point? 7. What is sensitivity analysis? 8. What are 3 ways in that CVP analysis can be used by managers to make decisions? 9. How does variable costing differ from absorption costing? 10. If units produced = units sold, is the net income under variable costing or absorption costing greater? 11. If units produced> units sold, is the net income under variable costing or absorption costing greater? 12. If units produced< units sold, is the net income under variable costing or absorption costing greater?