Chapter 16 Cost-Volume- Profit Directed Reading Part I- Introduction 1. What questions can CVP help entrepreneurs and managers address? Part II- The Breakeven Point and Target Profit in Sales and Revenue (LO 1) 2. What does CVP stand for? 3. What two approaches are commonly used to compute CVP analysis? 1. IL 4. A fundamental concept underlying CVP analysis is that a firm's costs can be broken down into margin or CVP income statement. It looks like this: and costs. We organize these costs in a contribution