The classic Cost-Volume-Profit (CVP) model cannot meet the needs of accurate decision-making under the new cost structure, and the time-driven activity-based costing can accurately and timely respond to rising overhead costs through accurate identification of time-related resource consumption. By relaxing the constraints of the CVP model, based on the time-driven activity-based costing method, this paper reclassifies and divides the cost behavior, constructs an extended CVP analysis model, and uses the operating data of Hunan Gongsheng Fengsheng Equipment Manufacturing Co., Ltd (GSFS) to conduct the empirical analysis. The results show that the extended model is reliable and effective.