In the enthusiasm for activity-based costing, the new costing movement often neglects the critical importance of volume and argues that the traditional focus on maximizing contribution is no longer relevant. Despite the changes in advanced manufacturing cost structures, applying modified cost-volume-profit (CVP) concepts in the modern environment does have continued significance. Interesting implications follow from a re-emphasis of the importance of generating contribution through sales, and efficiently using the infrastructure of a company to generate volumes. This article expands the traditional concept of CVP analysis into modern manufacturing situations, incorporates the theory of constraints, and introduces an approach termed cost-constraint-profit analysis.