1.3.2 Revenues, costs and profits Flashcards
1
Q
Revenue Formula
A
Selling Price x Quantity Sold
2
Q
Total Variable Cost Formula
A
Variable costs per unit x Quantity Sold
3
Q
Total Costs Formula
A
Total fixed costs + total variable costs
4
Q
Profit formula
A
Total revenue - total cost
5
Q
Break Even Formula
A
Fixed costs / contribution per unit
6
Q
Contribution per unit formula
A
Selling price - variable cost per unit
7
Q
Fixed Costs Examples
A
Rent, Insurance, Utilities
8
Q
Variable Costs Examples
A
Stock, wages, raw materials
