Flashcards
Business Studies Unit 1 Flashcards
Cards in this deck (17)
- 1What is the formula for profit?Total revenue - Total costs
- 2What is the formula for revenue?Selling price per unit * sales
- 3What is the total costs formula?fixed costs + total variable costs
- 4What is the total variable costs formula?variable costs per unit * output
- 5What is the break even output formula?Fixed costs
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Selling price per unit - VC per unit - 6What is the contribution per unit formula?selling price per unit - variable costs per unit
- 7What is the total contribution formula?(selling price per unit - variable costs per unit) * output
- 8What is the margin of safety formula?actual output - break even output
- 9What is the net monthly cash flow formula?cash inflows - cash outflows
- 10What is the closing balance formula?opening balance + net monthly cash flow
- 11What is the percentage change formula?new-old
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old - 12What is the profit budget formula?income budget- expenditure budget
- 13What is the market share formula?company sales
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total sales - 14What is the market growth formula?new - old
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old - 15What is the market size formula?business sales
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business market share - 16What is the added value formula?selling price - cost of materials
- 17What is the total added value formula?(selling price - cost of materials) * output