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WorksheetsBusiness Numbers! Not Maths!
Total questions: 50
Worksheet time: 26mins
This is the term given to how many products/services a business produces.
Output
Cost
Fixed Cost
Variable cost
The things a business has to pay for in order to start-up and operate on a daily basis.
Output
Costs
Profit
Revenue
Costs that do not change depending on output
Variable costs
Fixed costs
Total costs
Output
These are the costs that change based on output.
Fixed costs
Variable costs
Output
Rent is...
variable cost
fixed cost
total cost
Advertising is...
output
fixed cost
variable cost
Raw materials are...
fixed cost
variable cost
Packaging is...
fixed cost
variable cost
Wages are...
fixed cost
variable cost
All the fixed costs added together with all the variable costs.
output
fixed costs
variable costs
total costs
The formula for total costs is:
fixed costs+variable costs= total costs
output+fixed costs=total costs
output+variable costs=total costs
Revenue is...
Sales revenue – total costs
Selling price x number of units sold
Fixed costs + variable costs
cost that is independent of output
Profit/Loss...
Sales revenue – total costs
Selling price x number of units sold
What is Revenue
Income from selling products or services
The money being paid out for bills
The money kept by an entrepreneur after costs are paid
The selling price of each of the items
Calculate the revenue if a business sells 20,000 units at £2 each
£4000
£40,000
$40,000
£400,000
Calculate the revenue if a business sells 80,000 units at $2.50 each
$200,000
£200,000
£20,000
$20,000
Business A has £5000 fixed costs per month. The variable costs per item they make and sell is £3. What is the businesses total costs if they make and sell 10,000 units.
£5003
£30,000
£35,000
£25,000
Business B has £1000 fixed costs per month. The variable costs per item they make and sell is £0.50. What is the businesses total costs if they make and sell 6000 units.
£4000
£3000
£1000.50
£2000
Which formula calculates profit.
Revenue - fixed costs = profit
Revenue - variable costs = profit
Revenue - total costs = profit
Revenue - profit = variable costs
Calculate profit from the following figures
Revenue: £40,000
Total cost: £6500
£33,500
£46,500
£30,500
£33,000
Calculate profit from the following figures
Revenue: £100,000
Fixed cost: £10,000
variable cost: £20,000
Total cost: £30,000
£130,000
£40,000
£80,000
£70,000
Coffee shop charges £1.90 for a cup of coffee. The variable cost per cup is £0.25p and monthly fixed costs are £2400. Last month the business sold 2,400 cups of coffee. How much profit was made last month?
£4,560
£1,660
£1,560
£3,000
The following year the toy manufacturer estimates it will still sell 26,000 units at a selling price of £18 per unit. Variable costs per unit will be 2/3 of the selling price. Fixed costs will stay the same and the business estimates variable costs will increase 10%. Calculate what will the new profit be?
£55,000
£70,000
£51,000
£62,000
What is the formula for contribution?
cost price - selling price
fixed costs - variable costs
selling price - variable cost
selling price - cost price
Fixed costs: = £30,000
Variable cost: = £200 per photo shoot
Forecast output (Sales): = 140 photo shoots
Selling price: = £1000 per photo shoot
What is the Total Contribution?
£112 000
£112 500
£375
£800
Bart is planning on opening an ice cream parlour. After carrying out some research a friend has presented him with a break-even chart but he is unsure of what it means.
He has asked you to show him where the break-even point is.
1
2
3
4
Bart should break-even at 600 ice creams per month. He believes that he can sell 850 ice creams per month. What is his margin of safety?
250
1450
150
50
Frederick is revising his formulae for a test on break-even. He has mixed up his revision notes. What is the formulas for Profit
Total revenue - total cost
Fixed cost + variable cost
Actual output - break-even point
Total revenue = total cost
What is represented by the purple region in the break even diagram shown here?
The break even point
Profit
Loss
What is represented by the orange region in the break even diagram shown here?
The break even point
Profit
Loss
What part of the chart is labeled D?
Total Cost
Variable costs
Fixed cost
Total Revenue
Which of the following is the value of x?
£2
£4
£6
(£2)
Which of the following is the value of y?
£4
£6
£9
(£9)
Which of the following is the value of z?
£2
£5
£(15)
£(5)
How do you calculate net cash flow?
Balance brought forward + Cash Inflows
Inflows - Outflows
Total cash available - cash outflows
None of the above
A business uses a cash flow forecast to ????
promote an enterprise
segment the correct market
identify potential shortfalls in cash balances
pinpoint what the break even point is
The cash flow forecast predicts the _____ of the business over a future period.
net cash flows
profit and losses
dividend payments
customer satisfaction levels
March closing balance = £3,000.
March net cash flows = £2,500
April opening balance = ????
£3,500
£3,000
£500
(£2,000)
June closing balance = £5,000
June net cash flows = £4,000
July opening balance = ????
£4,000
£1,000
£9,000
£5,000
May opening balance = £1,000
May cash inflows = £10,000.
May cash outflows= £8,000
May net cash flow = ????
£2,000
£18,000
£1,000
£3,000
January opening balance = £3,000
January cash inflows = £2,000
January cash outflows= £6,000
January net cash flow = ????
£8,000
(£4,000)
£4,000
(£8,000)
