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Transcript of Business Studys
Fixed and Variable Costs
Fixed cots is when you definitely have to pay even if you don't sell anything Rent is a fixed cost because you have to pay no matter what .
Variable cost is when you don't have to definitely pay you can pay if you want to a variable cost is packaging you decide whether you want it .
Start up and Running Costs
Start up costs are the costs as you are starting up the business like opening signs or training of staff .
Running costs are the costs through out the business
such as rent or telephone bill .
Total costs are fixed costs plus variable costs and the answer is your total cost
Revenue is all the money that comes into the business it is'nt the profit .
The Formula of revenue is Number of sales * cost per unit .
All businesses have a revenue
A business sells 1000 small boxes of chocolate at £4 each the revenue will be £4000