2.2.2 Flashcards by lIIIlIIlllIIlI IIIIllllIIIlIlIlIII | Brainscape

Q

What is Sales Volume?

A

Number of all units sold by business

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Q

What is Sales revenue?

A

Value of all units sold by business.

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Q

Formula of Sales reveune?

A

Selling price X Quantity

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Q

What is FC?

A

Costs that do not change as output level changes.

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Q

What is VC?

A

Costs that change directly with output.

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Q

What is TC?

A

FC+VC

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Q

Calculate TC

A

TFC+TVC

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Q

Calculate TVC

A

VC X Quantity

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Q

Calculate ATC

A

(cost per unit) TC/Quantity

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Q

Calculate AVC

A

VC/Quantity

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Q

What is Contribution?

A

Selling Price - Variable Costs per unit

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