Flashcards 3.0 / 5 based on 2 ratings ? BusinessFinanceBTEC NationalAll boards Created by: MLG RevisionCreated on: 17-11-14 11:17 Start up costs Costs to start up the business 1 of 10 Operating costs Day to day costs of business 2 of 10 Expenditure All money the business pays out 3 of 10 Fixed costs Same cost no matter how many products the business makes or sells 4 of 10 Variable costs Costs that can change depending on the number of items sold or produced 5 of 10 Revenue Income of sales and goods before costs and expenses are abducted 6 of 10 How to calculate total costs Fixed costs + Variable costs 7 of 10 Calculate revenue Number of sales x Price per unit 8 of 10 Calculate profit or loss Revenue - expenditure 9 of 10 Break even point Fixed costs / selling price per unit - variable cost per unit 10 of 10
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