Paper 1 Flashcards
What is the formula for % change?
(new value – original value) / original value x 100
What is unit costs?
Total Cost ÷ Output
What is % interest?
(total repayment - borrowed amount)/borrowed amount x 100
Total Revenue
Selling Price x Number Sold
Total Fixed Costs
All fixed costs added together
Total Variable Costs
Variable cost per unit x Number sold
Total Costs
Total Fixed Cost + Total Variable Cost
Profit
Total Revenue – Total Cost
Contribution per unit
Selling Price – Variable cost per unit
Break Even Point in units
Fixed Cost ÷ Contribution per unit
Break even point in currency
break even point in units x sales prices
Margin of Safety
Actual Output – Break Even output
Total contribution
Total revenue – total variable costs
Total Inflows/ Total Income
All inflows/ income added together for that month
Total Outflows/ Total Expenditure
All outflows/ expenditure added together for that month
