WorksheetsFinance - Costs & Revenue
Total questions: 13
Worksheet time: 6mins
What is a cost?
Something the company receives
The price of a product
Something the company must pay
Something the company sells
Which 3 of these are costs?
Fixed
Variable
Operating
Revenue
What is an operating cost?
Something a business pays before the company starts
Something the company receives
Something the company pays for their day to day running
Something the company cant afford
Which 2 of these are examples of start up costs for a small supermarket?
Stock
Buy a shop
Pay wages
Pay a recruitment agency to recruit staff
Which 2 of these are examples of operating costs for a transport company?
Buy a Lorry
Diesel
Utilities
Buy a printer
How are operating costs broken down?
Fixed & Total
Total & Variable
Total & Indirect
Fixed & Variable
Which cost is Fixed?
Sandwiches
Ingredients
Utilities
Stock
What is a variable cost?
A cost which does not change
A cost which they must pay even if they produce nothing
A cost which changes the more or less the business produces
A cost the business pays when they start
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
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
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
