Flashcards
Chapter 8 terms
Flashcards do conjunto (17)
- 1Breakeven PointPoint at which seller has covered all expenses and costs and has made no profit or suffered a loss
- 2Contribution MarginDifference between selling price and variable cost
- 3CostPrice retailers pay to manufacturer or supplier to bring merchandise into store
- 4Dollar MarkdownOriginal selling price less the reduction to price. Markdown may be stated as a percent of the original selling price.
- 5Dollar MarkupSelling price less cost. Difference is the amount of the markup. Markup is also expressed in percent.
- 6Fixed CostCost that do not change with increase or decrease in sales.
- 7Gross ProfitDifference between cost of bringing goods into the store and selling price of the goods.
- 8MarginDifference between cost of bringing goods into store and selling price of goods
- 9MarkdownsRedReductions from original selling price caused by seasonal changes, special promotions, and so on.
- 10MarkupAmount retailers add to cost of goods to cover operating expenses and to make a profit.
- 11Net Profit(Net Income)Gross profit - Operating expenses
- 12Operating Expense (overhead)Regular expenses of doing business. These are not cost.
- 13Percent Markk on CostpDollar markup divided by the cost; thus, markup is a percent of the cost
- 14Percent Markup on Selling PriceDollar markup divided by the selling price; thus, markup is a percent of the selling price
- 15PerishablesGoods or services with a limited life.
- 16Selling PriceCost plus markup equals selling price
- 17Variable CostCost that do change in response to change in volume of sales.
Informações
- Descrição
- The key terms for chapter 8
- Criado por
- lekia Idigima
- Visualizações
- 40
- Tags
- Avaliação