Finacial planning and monitoring 0.0 / 5 ? Applied BusinessCollinsASAQA Created by: TiabarkerhallCreated on: 13-05-15 09:11 Revenue Is the income a business earns from selling its goods and service 1 of 7 Fixed costs Are costs that do not vary with the level of output. Fixed costs exist even if a businesss is not producing any goods or services 2 of 7 Variable costs Vary directly with output. They include labour, fuel and raw materials 3 of 7 Breakeven = Total fixed costs divide by selling price- variable cost per unit 4 of 7 Total cost = Fixed costs+variable costs 5 of 7 Revenue = Quantity sold x average selling price 6 of 7 Profit = Revenue - total costs 7 of 7
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