Income Statement - Fish & Chips

Allocate the items to their correct category!

Groups:

(a) Revenue

,

(b) Expense (Non-COGS)

,

(c) Expense (COGS)

,

(d) Sharks

• Mako

• Rent

• Great White

• Hammerhead

• 100 Bottles of Vinegar

• Phone Bill

• Tiger

• 2500 Frozen Chips

• Whale

• Car Insurance

• Wages

• 4,500 Large Fish and Chips

• 10,000 Medium Fish & Chips

• Advertising

• 2000 Small Fish & Chips

• Vehicle

• 750kg of Fish

Which of these is the correct cost of the frozen chips?

• £2100

• £2500

• £2000

• £2800

What does COGS stand for?

• Cost of Goods Sold

• Cost of Goats Sold

• Cost of Gold Sold

• Coats off Good Start

Which of these is NOT a fish?

• Cod

• Haddock

• Bream

• Kit

Answer explanation

A Kit is the name for a baby fox, beaver or raccoon.

Which of these was the chip shop's biggest expense?

• 750kg of Fish

• Rent

• Wages

• Advertising

Which was the chip shop's largest source of revenue?

• Small Fish & Chips

• Medium Fish & Chips

• Large Fish & Chips

• Battered Sausage

If one pack of frozen chips can make 5 large portions of chips, how many portions could you make with the total packs that the chip shop bought?

• 50

• 5000

• 12500

• 1000

Which of these animals weighs roughly the same as the amount of fish bought by the chip shop?

• 
• 
• 
• 

Answer explanation

Adult Water Buffalo can weigh up to 725kg

Adult Hippos can weigh as much as 3750kg - That's 2.5 times the weight of a car!

Reorder the following from smallest to largest cost

• Wages

• Vehicle

• Phone Bill

• 100 Bottles of Vinegar

• Car Insurance

Which is the most expensive?

• 10 x Large Fish & Chips

• 15 x Medium Fish & Chips

• 25 x Small Fish and Chips

• 5 x Large Fish & Chips + 10 x Medium Fish & Chips

Answer explanation

10 x Large Fish and Chips = £65

15 x Medium Fish and Chips = £75

25 x Small Fish and Chips = £75

5 x Large + 15 x Medium = £82.50