Theme 1 formulas Flashcards by Kamundi Mustapha

Q

Total cost formula

A

TVC x TFC

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Q

Average cost formula

A

Total Variable Costs/ Quantity produced

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Q

What is ‘Marginal Cost’?

A

Cost of producing one extra unit

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Q

Percentage change formular

A

Difference in numbers/ Original number x 100

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Q

Contribution formular

A

Selling price - variable cost per unit

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Q

Total contribution formular

A

Contribution per unit x total units sold

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Q

Gross profit formular

A

total revenue - the cost of the goods sold

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Q

Gross profit margin formular

A

Gross profit / sales (expressed as a percentage)

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