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Criado por Barrett Morrison
12 meses atrás
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Questão | Responda |
Breakeven Point | Point at which seller has covered all expenses and costs and has made no profit or suffered a loss |
Contribution Margin | Difference between selling price and variable cost |
Cost | Price retailers pay to manufacturer or supplier to bring merchandise into store |
Dollar Markdown | Original selling price less the reduction to price. Markdown may be stated as a percent of the original selling price |
Dollar Markup | Selling price less cost. Difference is the amount of the markup. Markup is also expressed in percent |
Fixed Cost | Costs that do not change with increase or decrease in sales |
Gross Profit | Difference between cost of bringing goods into the store and selling price of the goods |
Margins | Difference between cost of bringing goods into store and selling price of goods |
Markdown | Reductions from original selling price caused by seasonal changes, special promotions, and so on, |
Markup | Amount retailers add to cost of goods to cover operating expenses and make a profit |
Net Profit | Gross profit less operating expenses |
Operating Expenses | Regular expenses of doing business. These are not costs |
Percent Markup on Cost | Dollar markup divided by the cost; thus, markup is a percent of the cost |
Percent Markup on Selling Price | Dollar markup divided by the selling price; thus, markup is a percent of the selling price |
Perishables | Goods or services with a limited life |
Selling Price | Cost plus markup equals selling price |
Variable Cost | Costs that do change in response to change in volume of sales |
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