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Describe the two alternate methods used to account for prepaid expenses.
Total Contribution Margin
This refers to the total amount of revenue left over after deducting all variable costs, indicating the total contribution towards covering fixed costs and generating profit.
Break-even Point
The point at which total revenue equals total costs, resulting in no profit or loss for the business.
Sales Mix
The combination of different products or services that a company sells, which impacts the overall profitability.
Contribution Margin Ratio
A ratio that measures the percentage of sales revenue available to cover fixed expenses and generate profit, calculated as the contribution margin divided by sales revenue.
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