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WorksheetsRO64 LO2.1
Total questions: 23
Worksheet time: 16mins
What costs stay the same regardless of the amount of units produced?
Fixed costs
Variable costs
Operating Costs
Total Costs
What costs increase and decrease based on the amount of units produced?
Fixed costs
Variable costs
Operating Costs
Total Costs
What is the combination of fixed costs and variable costs?
Diego Costa
Super costs
Operating Costs
Total Costs
What are costs?
the things a business needs to pay for
the amount a customer pays for a product
the amount invested in a business
the value of all stock
An example of salaried job is a ______________
cashier
electrician
teacher
delivery driver
Wages are a
fixed cost
variable cost
Salaries are a
fixed cost
variable cost
Loan repayments are a
Fixed cost
Variable cost
Insurance repayments are a
Fixed cost
Variable cost
Stock costs are a
Fixed cost
Variable cost
Advertising costs are a
Fixed cost
Variable cost
Packaging costs are a
Fixed cost
Variable cost
Utilities costs (gas, electric, water) are a
Fixed cost
Variable cost
Website maintenance and hosting costs are a
Fixed cost
Variable cost
Which of these is the formula for total costs?
Fixed costs + variable costs
Fixed costs - variable costs
Fixed costs ÷ variable costs
Fixed costs × variable costs
Which of these is the formula for total variable costs?
Variable cost per unit × number of units produced
Variable cost per unit + number of units produced
Variable cost per unit ÷ number of units produced
Variable cost per unit − number of units produced
Sunny Beach Supplies sells bucket and spades to holiday makers in Walton on Sea. The owner, Jim, has provided the following information:
For an output level of 100 buckets and spades, the fixed costs are £3000 and the variable costs are £500.
Calculate total costs for an output of 100 buckets and spades.
£3500
£3000
£500
£1,500,000
Sunny Beach Supplies sells bucket and spades to holiday makers in Walton on Sea. The owner, Jim, has provided the following information:
For an output level of 100 buckets and spades, the fixed costs are £3000 and the variable costs are £500.
Calculate the cost per unit for one bucket and spade.
£5
£1
50p
£50
Sunny Beach Supplies sells bucket and spades to holiday makers in Walton on Sea. The owner, Jim, has provided the following information:
For an output level of 100 buckets and spades, the fixed costs are £3000 and the variable costs are £500.
Calculate total costs if output increased to 150 buckets and spades.
£3750
£5000
£3500
£750
What does break even point show?
where a business is neither making a profit or loss
how many items to give away for free
how much profit they're making
where a business has more fixed costs than variable
What assumption does this statement say "Break even is 54 units"?
if we sell 55 we aren't making a profit
if we sell 54 we begin to make a profit
if we sell 55 we begin to make a profit
if we sell 54 we are not yet at break even point
What is the formula for contribution?
cost price - selling price
fixed costs - variable costs
selling price - variable cost
selling price - cost price
