29233293
Description
Quiz by Gaby Gijsberts, updated more than 1 year ago
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Created by Gaby Gijsberts
over 3 years ago
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Question 1
Question
Which of the following costs would be a fixed cost for Shaun, a knitwear manufacturer?
Answer
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Purchasing wool
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Labour cost: knitting machine operators
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Factory rent
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Labels and packaging
Question 2
Question
Which of the following definitions of break-even point is correct?
Answer
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The break-even point is where total revenue equals total fixed costs plus variable costs.
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The break-even point is where total sales revenue equals total contribution.
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The break-even point is where total fixed costs equals total variable costs.
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. The break-even point is where total revenue equals total fixed costs less variable costs.
Question 3
Question
Toby is arranging for a rock concert to be held in the students union. The use of the hall will be free but security costs of £100 will have to be met. The cost of the main band will be £2,500 and the supporting band will cost £150. Tickets will be priced at £11 each. What is the break-even point for this event?
Answer
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227 tickets
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236 tickets
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241 tickets
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250 tickets
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