Business- Break Even

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  • Created by: EllN1
  • Created on: 22-09-16 20:03
What is the equation for total revenue?
Selline price x quantity sold
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What is capital?
Money invested by an owner into the business
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What is the equation for profit?
TR - TC
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What are fixed costs?
Costs that don't change when the business changes the amount it produces and sells
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What is the correct example of fixed costs?
Machinery
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What is te correct example of variable costs?
Wages
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What is TVC?
Quantity sold x VC per unit
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What is the equation for breakeven?
Fixed cost/ (Selline price per unit - VC per unit)
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What is TC?
FC + TVC
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What is margin of safety?
Actual ouput - breakeven output
10 of 10

Other cards in this set

Card 2

Front

What is capital?

Back

Money invested by an owner into the business

Card 3

Front

What is the equation for profit?

Back

Preview of the front of card 3

Card 4

Front

What are fixed costs?

Back

Preview of the front of card 4

Card 5

Front

What is the correct example of fixed costs?

Back

Preview of the front of card 5
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