Cost-volume-profit (CVP) analysis is an essential tool that assists managers in decision-making by examining the relationships between costs, sales volume, and profits. In CVP analysis, the variables that are typically changed to assess their impact on income include **sales price** and **production costs**.

1. **Sales Price**: This refers to the amount at which the product is sold to customers. Changes in sales price can significantly influence revenue, which is a crucial component of profit.

2. **Production Costs**: This refers to the costs involved in manufacturing a product, which can include variable costs (costs that change with production volume) and fixed costs (costs that do not change with the volume of production). Variations in these costs impact the overall profitability of the business.

In summary, the two blanks can be filled with **sales price** and **production costs**, reflecting the key aspects that CVP analysis evaluates to understand how these factors influence income.

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Cost-volume-profit (CVP) analysis is an essential tool that assists managers in decision-making by examining the relationships between costs, sales volume, and profits. In CVP analysis, the variables that are typically changed to assess their impact on income include **sales price** and **production costs**.

1. **Sales Price**: This refers to the amount at which the product is sold to customers. Changes in sales price can significantly influence revenue, which is a crucial component of profit.

2. **Production Costs**: This refers to the costs involved in manufacturing a product, which can include variable costs (costs that change with production volume) and fixed costs (costs that do not change with the volume of production). Variations in these costs impact the overall profitability of the business.

In summary, the two blanks can be filled with **sales price** and **production costs**, reflecting the key aspects that CVP analysis evaluates to understand how these factors influence income.

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Cost-volume-profit (CVP) analysis is an essential tool that assists managers in decision-making by examining the relationships between costs, sales volume, and profits. In CVP analysis, the variables that are typically changed to assess their impact on income include **sales price** and **production costs**.

1. **Sales Price**: This refers to the amount at which the product is sold to customers. Changes in sales price can significantly influence revenue, which is a crucial component of profit.

2. **Production Costs**: This refers to the costs involved in manufacturing a product, which can include variable costs (costs that change with production volume) and fixed costs (costs that do not change with the volume of production). Variations in these costs impact the overall profitability of the business.

In summary, the two blanks can be filled with **sales price** and **production costs**, reflecting the key aspects that CVP analysis evaluates to understand how these factors influence income.

Fill in the Blank QuestionFill in the blank question.Cost-volume-profit analysis helps managers predict how changes in and levels affect income.

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