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Worksheets9d - Assessment 1
Total questions: 17
Worksheet time: 15mins
Which of these gives us total costs?
Indirect costs + direct costs
Indirect costs + variable costs
Direct costs + fixed costs
Fixed costs + variable costs
A business sells T-shirts. Each T-Shirt retails for £8.00. The business sold 40,000 T-shirts last year. Calculate the total revenue for the business.
(a)
Which of the following would cause an increase in the variable costs of a manufacturer of wardrobes?
The rent is doubled
The cost of wood goes up by 10%
The cost of wood goes down by 10%
Insurance prices triple
The running costs of a business can be split into two types, indirect and direct
costs. Which type of cost is which?
Fixed costs are (a) costs
Revenue can be calculated by: (2)
Revenue = Selling price x (a)
Which of the following would cause an increase in the fixed costs of a manufacturer of wardrobes
The rent is doubled
The cost of wood goes up by 10%
The cost of wood goes down by 10%
A competitor opens up nearby
Fixed costs for a business are £178.60 and Variable costs are £66.50, what is the Total Cost?
(a)
If Rent was £25.50 per month
If Materials were £14.50 in April
If Heating and lighting were £25.50 in April
What would be the total costs in April?
(a)
Fixed Costs for a business are £175.50
Total Costs for a business are £190.00
What are the variable costs for the business?
(a)
Revenue – Total Costs
What is this a formula for:
Profit
Break Even
Sales Revenue
Income
Which of these are variable costs
Raw materials
Rent
Salary
Wages
Bank loan
Sales Revenue £600,000
Variable costs £350,000
Overheads £100,000
Profit £150,000
[Based on 7500 units sold each month]
Using the data above, calculate the unit selling price:
(a)
Sales Revenue £600,000
Variable costs £352,500
Overheads £100,000
Profit £150,000
[Based on 7500 units sold each month]
Using the data above, calculate the unit variable cost:
(a)
Costs that do not change with output are..
Sales revenue
Fixed costs
Variable costs
Budget costs
Which statement is true...
PROFIT CAN ALWAYS BE INCREASED BY INCREASING COSTS
IF FIXED COSTS RISE, TOTAL COSTS WILL FALL
PROFIT - SALES REVENUE = TOTAL COSTS
VARIABLE COSTS + TOTAL COSTS = FIXED COSTS
AN INCREASE IN COSTS ARE MOST LIKELY TO ARISE FROM…
A FALL IN DEMAND FOR YOUR PRODUCT
A RISE IN THE NATIONAL MINIMUM WAGE
FINDING A SUPPLIER THAT IS CLOSER TO YOUR BUSINESS
INCREASING THE PRICE OF YOUR PRODUCTS
7,000 pizzas at £10.00 each
10,000 chip portions at £1.50 each
7,000 garlic bread portions at £4.00 each
5,000 soft drinks at £1.50 each
What is the takeaway businesses sales revenue?
(a)
