Business costs starter

Revenue and Profit are the same thing

• True

• False

Fixed costs do not change with the amount of products produced, for example rent

• True

• False

An example of variable cost is

• rent

• insurance

• monthly salaries

• raw materials (ingredients)

Variable cost per unit =

• Total variable costs / Number of units

• Sum of all variable costs

• Sum of all fixed costs

Costs are

• money businesses get from selling the product

• money business spend on business activity