ESB domain 3 and 4

Front

What is the formula for calculating the selling price?

Back

Cost price + Markup

Front

What is the formula for calculating gross profit?

Back

Selling price - Cost price

Front

Which of the following is an example of a fixed expense? Sales commission, Raw materials, Utilities, Rent

Back

Rent

Front

What is the formula for calculating income tax expense?

Back

Gross profit x Tax rate

Front

What is the formula for calculating return on investment?

Back

(Net profit / Investment) x 100

Front

What is the formula for calculating net profit?

Back

Gross profit - Expenses

Front

Which of the following is an example of a variable expense?
Options:
Rent
Insurance
Utilities
Raw materials

Back

Raw materials

Front

What is the formula for calculating break-even point? Options: Selling price - Variable cost per unit, Fixed costs x (Selling price - Variable cost per unit), Gross Profit - Cost of Goods Sold, Total Monthly Costs / Selling Price

Back

Total Monthly Costs / Selling Price

Front

What is the formula for calculating operating profit?

Back

Gross profit - Operating expenses

Front

You are manufacturing bikes and want to know what you should sell them at. The cost of manufacturing the bike is $65 and the desired profit margin is 15%. What is the selling price?

Back

$74.75