Theme 2.2 Key Word Cards 0.0 / 5 ? BusinessFinancial PlanningASEdexcel Created by: May MatthewsCreated on: 05-01-17 18:36 97102316845 Across 1. A difference between budgeted and actual figures that boosts a firm's profit. (10, 8) 4. The number of units sold in a period of time, e.g. a year. (5, 6) 5. The expenses incurred by a firm in producing and selling its products, such as wages and raw materials. (5) 8. A target for costs or revenue that a firm or department must aim to reach over a given time period. (6) 9. Those that do to change as the number of sales change (for example, rent or salaries). (5, 5) 10. A budget that sets a ceiling (i.e. a maximum target for costs). (11, 6) Down 2. Compares a firm's revenue with its fixed and variable costs to identify the minimum level of sales needed to cover costs. Break-even is the point at which total fixed costs + total variable costs = total revenue. (5, 4) 3. This is total revenue less variable costs. The calculation of contribution is useful for businesses that are responsible for a range of products. (12) 6. The general path that a series of values (for example, sales) follows over time, disregarding variations or random fluctuations. (5) 7. Yardsticks against which success (or the lack of it) can be measured. (8)
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