AS Business Studies- Costs, Profit and Revenue

Small Quiz on costs, profit and revenue

?
  • Created by: Tally
  • Created on: 17-11-10 10:37
What is the name given to costs that do not change with the level of output?
Fixed
1 of 4
What is the profit if Total costs are £157,000 and Revenue is £150,000?
(7,000)
2 of 4
What is an example of a Variable cost?
Raw materials
3 of 4
The formula for calculating revenue is:
Quantity sold x Average selling price
4 of 4

Other cards in this set

Card 2

Front

What is the profit if Total costs are £157,000 and Revenue is £150,000?

Back

(7,000)

Card 3

Front

What is an example of a Variable cost?

Back

Preview of the front of card 3

Card 4

Front

The formula for calculating revenue is:

Back

Preview of the front of card 4

Comments

eden

Report

wages are a variable cost.

Oliver Hurley

Report

100%!

Jack Dawson

Report

eden wrote:

They can be, this does depend on whether they obtain bonuses but yeah they are variable

Elisabeth

Report

Yeaaah 100% :D

zainab

Report

100% easy

alex

Report

100% YAY!

Lex

Report

100% that was pretty easy ;)

abc

Report

100%

well easy

Nikki

Report

why does a bracket mean minus???????????????

bradley

Report

Wages are definately variable costs

Stuart

Report

Wages are a variable cost, salary is a fixed cost.

Love will never leave us alone..

Report

in an exam, unless the case study specifically said the wages would change, they would not be considered a variable cost; be careful.

Similar Business Studies resources:

See all Business Studies resources »