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1.3.2 Business revenues, costs and profits Typeit
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The formula to calculate Revenue is R = x Q
The formula to calculate Total Costs is TC = + FC
The formula to calculate the interest rate on money borrowed by the business is (Total Repayment - Borrowed Amount) ÷ x 100
The break-even formula is ÷ (SP - VC)
The Margin of Safety (MoS) formula is Mos = Actual - sales in units
Fixed Costs (FC) are costs to a business which do NOT with levels of output, e.g. rent and insurance
Variable Costs (VC) are costs to a business which do vary with levels of , e.g. raw materials
The formula for Profit is TR -
Break even is the point of sales where a business makes neither a profit nor a
is money coming in to the business through sales of goods or services