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Expenses Review

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12th Grade

Expenses Review
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10 questions

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1.

DRAG AND DROP QUESTION

2 mins • 5 pts

There are 3 different types of expenses. ​ (a)   are expenses that you must purchase before you start your business. These include things like​ (b)   . ​ (c)   are expenses that do not need to be replaced after every sale, like utilities or employee payroll. The last type of expense is a ​ (d)   which must be replaced after every sale, and includes ingredients and ​ (e)   .

Startup Expenses
Fixed Expenses
equipment
Variable Expense
materials
depreciation

2.

CATEGORIZE QUESTION

3 mins • 13 pts

Categorize each expense as a fixed or variable expense.

Groups:

(a) Fixed Expense

,

(b) Variable Expense

Ice Cream Cone

Ice Cream

Payroll Tax

Rent

Phone

Advertising

Payroll

Insurance

Sprinkles

Depreciation

Electricity

Internet

Spoons

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

All of the variable expenses needed to make your unit of sale is the

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Gage is asked "How much does it cost to make your product?". This would be the same thing as his

Cost of Goods Sold

Total Montly Fixed Expense

Startup Expenses

Burn Rate

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The price you sell your unit of sale to customers for is your

Selling Price

Fixed Expense

Cost of Goods Sold

Contribution Margin

6.

DROPDOWN QUESTION

1 min • 1 pt

Contribution Margin is how much each unit of sale ​ (a)   your company's profitability

contributes to
takes away from
is spread out over

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The amount of units you must sell in order to break-even, which means to not lose money or make money

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