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Costs and revenues
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Which value shows this chart?
TVC
Revenue does not only come from the sale of goods and • services. Money can come into a business from other means, collectively known as...
Revenue streams
Those costs that cannot be clearly traced to the production or sale of any single product (advertising, legal expenses, salaries for administrative staff, insurance premiums, security, office stationery, shipping and postage costs...)
Overheads / Indirect costs
Cost that is specifically related to the output of a particular product; without which the costs would not be incurred (are not necessarily related to the level of output)
Direct costs
In a chart, where do TFC and TVC lines start and why?
Both start at the same value of fixed costs because these have to be paid even if there is no output.
Costs of production that change in proportion with the level of output or sales (commission earned by sales staff, hourly wages of production workers, packaging, raw materials...) costs directly associated with output.
Variable costs
Costs of production that a business has to pay regardless of how much it produces or sells: rent on leased premises, interest payments on bank loans, advertising expenditure, market research, management salaries, stationery, security...
Fixed costs
Ongoing costs of operating the business, such as the payment of wages and salaries, insurance premiums and the costs of purchasing stocks (inventories).
Running costs
Items of expenditure needed to start a business, such as obtaining suitable premises, purchasing machinery and equipment and deposits paid to utilities companies
Set-up costs
Expenditure incurred by the business, not the actual amount paid by the customer to purchase the product from the retailer.
Cost
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