1.3.2: revenues, costs & profits CALCULATIONS Flashcards
1
Q
margin of safety
A
actual/budgeted sales - break even sales
2
Q
profit
A
revenue – total costs (minus number = loss)
3
Q
total costs
A
fixed costs + variable costs
4
Q
break even point (in units)
A
fixed costs/(selling price - variable costs)
5
Q
revenue
A
selling price × quantity sold
