Finacial planning and monitoring

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Revenue
Is the income a business earns from selling its goods and service
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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
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Variable costs
Vary directly with output. They include labour, fuel and raw materials
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Breakeven =
Total fixed costs divide by selling price- variable cost per unit
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Total cost =
Fixed costs+variable costs
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Revenue =
Quantity sold x average selling price
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Profit =
Revenue - total costs
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Card 2

Front

Fixed costs

Back

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

Card 3

Front

Variable costs

Back

Preview of the front of card 3

Card 4

Front

Breakeven =

Back

Preview of the front of card 4

Card 5

Front

Total cost =

Back

Preview of the front of card 5
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