Costs, Revenue, Profit, Break-even Flashcards
1
Q
Profit
A
Revenue - total costs
2
Q
Total cost
A
Cost of sales + overheads (fixed costs)
3
Q
Revenue
A
No. of products sold x price
4
Q
Gross Profit
A
Revenue - cost of sales
5
Q
Operating profit
A
Gross profit - overheads (fixed costs)
6
Q
Net profit before tax
A
Operating profit + financing costs + profit/loss from one off activities
7
Q
Net profit (profit for the year)
A
Net profit before tax - tax
8
Q
Sales
A
Sales revenue / selling price
9
Q
Total variable cost
A
Average variable cost x quantity sold
10
Q
Break even point
A
Fixed costs / (sales price per unit - variable costs per unit)
