Costs and Revenue

If fixed costs are £300 and Variable costs for making one sandwich are 50p, how would you work out total costs for 200 sandwiches?

• 200 x 300 x 0.50 = Total Sales

• 300 + 0.5 X 200 = Total Sales

• 200 + 0.5 x 300 = Total Sales

• 300 x 50 + 200 = Total Sales

If Sam's Sandwiches use 25p of material for each sandwich, what will be their variable costs for 10 sandwiches

• 10 x 0.25 = £2.50

• 2.5 x 10 = £25

• 25 x 10 = £250

• 0.25/10 = 2.5p

What is the formula for Revenue?

• Total Sales + Costs = Revenue

• Number of Sales x Price per unit = Revenue

• Price per unit x Total Costs = Revenue

• Number of Sales - Total Costs = Revenue

If Wendy sells 50 hot dogs at £2 each. What is her revenue?

• £250

• £100

• £120

• £52

If Saleem makes £250 from selling fresh juice, £80 from selling ice creams, £95 from selling lollies and pays £30 to his assistant, what is his total revenue?

• £395

• £425

• £455

• £250

Costs that must be paid regardless of how much of a good or service is produced. They do not change in the short term, regardless of output are called

• Variable costs

• Fixed costs

• Total costs

• The costs

Fixed Cost + Variable Cost =

• Breakeven point

• Total costs

• Fixed costs

• Variable costs

Costs that change based on the amount of goods and services produced.

• Total costs

• Fixed costs

• Variable costs

• Costs

Tags

CCSS.HSF-LE.A.1B

A single item or good

• Unit

• Revenue

• Cost

• Price

The income (amount of money) a business receives for in exchange for a product or service

• Costs

• Profit

• Loss

• Sales revenue