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Transcript of Buissness Studies
Fixed Costs and Variable costs
Fixed costs and variable costs are
both different. Fixed costs are costs
which have to be paid in a business,
no matter how much money you make. This could be Rent, Staff Wages, etc.
Variable costs are costs that depend on how much money you make in the business, for example packaging, materials, and products that you sell.
Revenue is the total amount of money that comes in from a business. The formula for revenue is: THE NUMBER OF SALES * COST PER UNIT. This money is NOT profit.