Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Nearly There
Nailed it!
BTEC First
Unit 2
Finance for
Business
Workbook 1
Name: ________________________
Had a Go
Nearly There
Nailed it!
____________________________________________________________________
____________________________________________________________________
__
What is an Operating cost?
____________________________________________________________________
____________________________________________________________________
__
Which of the following are start up costs for a Painting and Decorating Business
Had a Go
Nearly There
Nailed it!
Give three
1. __________________________
2. __________________________
3. __________________________
____________________________________________________________________
____________________________________________________________________
__
____________________________________________________________________
____________________________________________________________________
__
____________________________________________________________________
____________________________________________________________________
__
____________________________________________________________________
____________________________________________________________________
__
Laura is setting up her own business selling fashion accessories she has made,
on Facebook and Instagram. Identify two start up costs and two running costs
that she would have
Start up Costs
Storage
Running Costs
Sewing Machine
Business Cards
Electricity
iPhone
Wif
Beads
Camera
Had a Go
Nearly There
Nailed it!
Thomas has sold a few of his old stuf on eBay and made a bit of money. He has
decided he could make this into a business, by buying old things cheap and
selling them for a proft.
Which of the following are examples of running costs for his business?
eBay fees
Buying a camera to photograph is
products
Buying items to sell
____________________________________________________________________
____________________________________________________________________
__
Businesses have both fxed and variable costs. Fred is getting confused at what
is a fxed and what is a variable cost. Explain what the 2 terms mean.
____________________________________________________________________
____________________________________________________________________
__
____________________________________________________________________
____________________________________________________________________
__
____________________________________________________________________
____________________________________________________________________
__
____________________________________________________________________
____________________________________________________________________
__
Fred is making and selling fudge made from his familys famous recipe. He has
decided to open a store in Scarborough to sell his products. Suggest three fxed
costs for his business
1. _____________________________________
2. _____________________________________
3. _____________________________________
Now can you suggest two variable costs he might have
1. _____________________________________
2. _____________________________________
Complete this statement Packaging is usually a __________________ cost
because it does _________ with of the level of output.
Had a Go
Nearly There
Nailed it!
Start up costs
Variable Costs
Variable Cost =
___________
Calculate Jacks Total Costs
Total Cost =
___________
Emily designs bag and is selling them online. It costs 7 in materials to make
and her fxed costs are 20 per week. Calculate her Total costs for 25 bags.
Total Cost =
___________
She has been running the business for a while and gained lots of publicity. She
is now selling 45 bags per week. Calculate her new Total Cost.
Total Cost =
___________
A Business has the following monthly costs:
Fixed costs
Variable
Costs
500
12
item
per
____________________________________________________________________
_
Had a Go
Nearly There
Nailed it!
____________________________________________________________________
_
What are the total costs if they only make 30 items?
____________________________________________________________________
_
Sources of Revenue
What does the term Revenue mean?
____________________________________________________________________
____________________________________________________________________
__
____________________________________________________________________
_
Gavin owns a motor bike shop. He sells motorbikes and accessories as well as
servicing and fxing them in his repair centre next door. He also rents out a
space at the front of his shop to a guy that has a mobile burger van. Gavins
business is doing well and he has even got 10,000 in savings in the bank.
Identify three sources of fnance of Gavins Business
1. ________________________________________________
2. ________________________________________________
3. ________________________________________________
Stacy owns a small local gym. She makes money from the monthly subscription
her customers pay. The business is starting to struggle and Stacy is looking for
new ways she can make money from her business.
Suggest two other sources of income from customers
1. _____________________________________________________________________
2. _____________________________________________________________________
What of the following are examples of internal Sources of Finance?
Retained profts
Bank loan
Overdraft
Interest from Savings
Revenue from Sales
Mortgage
Which of the following are sources of revenue?
Retained profts
Paying Wages
Interest
Money for Repairs
Interest paid on bank Loan
Income from Renting
Betsy sells homemade cards that she makes at home. She sells them in the
local new agents and to friends and family. Suggest 2 ways she can increase
her revenue
1. ________________________________________________
Had a Go
Nearly There
Nailed it!
2. ________________________________________________
Types of Expenditure
What does the term Expenditure mean?
____________________________________________________________________
____________________________________________________________________
__
____________________________________________________________________
_
Which of the following are examples of expenditure for Thomass eBay shop.
eBay fees
Interest on Bank Savings
Buying items to sell
Josh and Ryan sell print artwork in the local shopping centre at a kiosk. Suggest
2 items of expenditure they have.
1. ________________________________________________
2. ________________________________________________
Finish this statement:
Had a Go
Nearly There
Nailed it!