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15
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When a business is at break-even
Zero
what is the profit?
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seesaw
Swap points!
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gift
Win 15 points!
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rocket
Go to first place!
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thief
Give points!
5
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25
15
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What happens if selling price increases (all other things stay the same)?
Break-even output rises
Variable costs rise
Fixed costs increase
Break-even output falls
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15
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What could cause break-even output to rise?
Increase in fixed costs
All of the above
Increase in variable costs
Decrease in selling price
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banana
Go to last place!
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gift
Win 15 points!
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fairy
Take points!
5
10
15
20
25
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banana
Go to last place!
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15
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What is contribution per unit?
Selling price - variable cost per unit
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baam
Lose 15 points!
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rocket
Go to first place!
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gift
Win 10 points!
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lifesaver
Give 20 points!
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15
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What is total contribution?
Contribution per unit à number of units sold
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15
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What is a budget?
A plan of expected income and spending for a period of time
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15
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A margin of safety shows...
How much output is above the break-even point
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15
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Which costs stay the same even if output changes?
Labour costs
Commission
Fixed costs
Variable costs
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15
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Cash flow shows...
The movement of money in and out of a business
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15
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What is an advantage of budgeting?
Helps control spending
Guarantees profit
Increases revenue
Stops competition
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Break-even is when...
Total revenue = total costs
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15
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What is a weakness of budgeting?
Budgets guarantee success
Budgets reduce profit
Budgets increase costs
Budgets may be unrealistic
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15
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Variable costs include...
Rent
Insurance
Wages for production workers
Salaries for managers
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