WorksheetsRevenue and Costs
Total questions: 30
Worksheet time: 31mins
A start up cost is.....
Costs that the business will pay regularly and on time
something that a business only has to pay when they first start the business
A way of a business paying for a big item such as a vehicle but only paying a deposit
A cost that a business will pay at the start of each month to keep it running
A running cost is..
A cost that are needed only at the beginning when setting up a business and needed to get them up and running
A cost that the business has to pay continuously to enable them to keep the business operating
A cost that involves anything to do with the making of the products
A cost that the business spends on promoting the business
Pick the odd one out
Till to record transactions
Pizza box with a logo on it
Fresh tomatoes to make the pizza base
Napkins for customers
Pick the odd one out
Pepperoni
Staff Wages
Petrol for delivery driver
Tables and Chairs
Pick the odd one out
Tables and Chairs
Sign to encourage people to visit the store
A pizza oven to cook the food
Dough to make pizza base
Fixed costs are
Costs that buy things that are fixed and cant be move such as a building
Costs that can't be negotiated cheaper with suppliers
Costs that do not change with output
Costs that do change with output
Variable costs are...
Costs that change due to output
Costs that can be increased or decreased depending on time of year
Costs that the business have to pay to get a product to the customers
Costs that don't change with output
An example of a fixed cost is
Napkins
Rent
Employees wages
Cheese for pizza
An example of a fixed cost is
Petrol
Pizza Boxes
Wages
Salaries
Pick the odd one out
Loan Repayments
Salary for manager
Petrol for delivery Van
Council Tax
A definition of output is
How much of a product or service is produced
The costs that your business has to pay
The amount of money made from one sale
The amount of customers who want your products
A business has fixed costs of £25,000. It then gets a new contract with a school and have to create 500 more sandwiches a day costing £1.00, after getting this new deal what is their fixed cost total?
£24,500
£25,000
£25,500
£20,500
A business has variable costs of £30,000 and fixed costs of £60,000 what are their total costs?
£36,000
£60,000
£30,000
£90,000
A business total costs are £45,000 and fixed costs are £25,000. They have recently had to pay an extra £5,000 on their variable costs. What will their new total costs be?
£15,000
£75,000
£50,000
£45,000
A business sells key rings for £3.00 each, they sell 30 a week for 4 weeks. How much is their total revenue?
£360
£270
£90
£350
The equation for profit is
Profit= Revenue + Total Costs
Profit= Revenue-Total Costs
Profit= Revenue/Total Costs
Profit = Fixed costs- Variable costs
A business makes £30,000 of revenue. Their fixed costs are £10,000 and variable are £15,000, how much have they made in profit?
£55,000
£30,000
£25,000
£5,000
The equation for total costs is
Fixed costs + variable costs
Revenue-fixed costs
Variable costs - Revenue
Variable costs-fixed costs
What is the definition of revenue?
The amount of money a business makes once it sells products and takes away the cost to make each one
The money raised from selling off different items like buildings or vehicles
The total money a business brings in
The costs when variable and fixed are added together
A business total costs are £85,000 and their revenue is £100,000. Their revenue has fallen by 10% because of corona virus but costs have stayed the same, what is their new profit figure?
£5,000
£115,000
£45,000
£10,000
A business sells hats for £15 each and sells 25 in one week. What is their total revenue for that week?
£355
£390
£375
£325
If I stopped making and selling products what would I still have to pay?
Fixed Costs
Variable Costs
Start up Costs
Total Costs
A business makes burgers and chips. The price of a burger is £3.00 and the price of chips are £1.50. They sell 20 burgers and 10 portion of chips in a day. What is their total revenue for that day
£70
£75
£50
£85
A business can increase revenue by
Get plastic cutlery
Getting more sales through adverts
Going for a cheaper supplier for cheese
Reducing number of staff when they aren't busy
If a business in the first month they spend £5,000 on a new kitchen, £1,000 on stock to sell, £500 on flyers they will regularly send out, £1,000 on a whole new seating area. How much where their start up costs
£7,500
£5,000
£6,000
£1,500
If a business sells t shirts and jumpers. A t-shirt costs £5 to make and sells for £10 and the jumper costs £10 to make and sells for £15. If the business sells 10 t shirts and 10 jumpers how much total revenue have they made?
£250
£100
£150
£200
Which ones of these costs will go up the more a business creates output
Rent
Salaries
Wages
Loan repayments
If fixed costs are £10,000 and operating costs are £5,000. What are the total running costs of the business
£5,000
£10,000
£15,000
£20,000
If a business spends £20,000 on a new van and then has to pay £300 a month on Petrol. What is the cost of the petrol called?
Start Up Cost
Operating Cost
Fixed Cost
Total Cost
Which one of these is a fixed cost that is increasing
Rent has been lowered due to pandemic
Pizza boxes are more expensive as raw materials to make them have increased in prices
Managers of stores are due a 5% increase in salary
Minimum wage has risen by 5%
