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level 2 btec business unit 3 p1

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2014/2015 Written for academic year
Institution OCR
Module Unit 3 - Business decisions
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buy the whole of business level 2 unit 3 for £3 in my bundle

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Eric Asare unit 3 p1


Fixed cost

Cost that can’t be change

Examples of a fixed cost is rent, contracts and insurance

Designer men clothing shop

http://en.wikipedia.org/wiki/Fixed_cost

Variable cost

Changes depending on the amount

Examples of a variable is the more stock you buy the more the less variable cost
will go down

Others examples wagers, electricity and tax

http://en.wikipedia.org/wiki/Variable_cost

Total cost

The formula of total cost is variable cost + fixed cost = total cost

http://en.wikipedia.org/wiki/Total_cost

Direct cost

Are specific costs for good for a business

Examples salary, wages and materials

http://www.investopedia.com/terms/d/directcost.asp

Indirect cost

Are not directly accountable to a cost object

Examples transport, insurance, accountant dust bin cleaner

http://en.wikipedia.org/wiki/Indirect_costs

Start-up

Is the amount money you start up the business with

Examples ovens, lights and cash machine

http://en.wikipedia.org/wiki/Startup_company

Running cost

Is the cost regularly spent to operate

Examples of running cost are raw materials for foods and transport

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Document information

Study Level
BTEC
Subject
Business studies
Uploaded on
January 27, 2016
Number of pages
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Written in
2014/2015
Type
Essay
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