GCSE Business Studies Key Terms in Finance Rugby Shirts WALES £12 each Rugby Shirts SCOTLAND £12 each Rugby Shirts IRELAND £12 each The business buys the rugby jerseys for £12 each…
GCSE Business StudiesKey Terms in Finance Rugby Shirts WALES £12 each Rugby Shirts SCOTLAND £12 each Rugby Shirts IRELAND £12 each The business buys the.
Dec 23, 2015
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GC
SE B
usi
ness
Stu
die
sK
ey T
erm
s in
Fin
ance
Rugby ShirtsWALES
£12 each
Rugby ShirtsSCOTLAND
£12 each
Rugby ShirtsIRELAND
£12 each
The business buys the rugby jerseys for £12 each…
GC
SE B
usi
ness
Stu
die
sK
ey T
erm
s in
Fin
ance
WelshRugby Shirts
£12 each£30.00
It sells each rugby jerseys for £30…
GC
SE B
usi
ness
Stu
die
sK
ey T
erm
s in
Fin
ance
£30.00
5000sold in a year
During the year it has sold 5000
jerseys…
GC
SE B
usi
ness
Stu
die
sK
ey T
erm
s in
Fin
ance
The shop has running costs of £40,000 per year for wages, rent, insurance, advertising etc.
££
GC
SE B
usi
ness
Stu
die
sK
ey T
erm
s in
Fin
ance
What was the price paid for each jersey?
What was the selling price of each jersey?
How many jerseys were sold per year?
What were the running costs of the business?
How much do you remember?
GC
SE B
usi
ness
Stu
die
sK
ey T
erm
s in
Fin
ance
1. What was the turnover in the year?
Sold for
£30
Sold for
£30
5,000
Hint
GC
SE B
usi
ness
Stu
die
sK
ey T
erm
s in
Fin
ance
2. What was the cost of goods sold during the year?
Bought for
£12
Bought for
£12
5,000
Hint
GC
SE B
usi
ness
Stu
die
sK
ey T
erm
s in
Fin
ance
3. What was the gross profit made in the year ?
Hint
GC
SE B
usi
ness
Stu
die
sK
ey T
erm
s in
Fin
ance
4. What was the gross profit %?
Hint
100
GC
SE B
usi
ness
Stu
die
sK
ey T
erm
s in
Fin
ance
5. What was the net profit in the year?
Running costs
Hint
GC
SE B
usi
ness
Stu
die
sK
ey T
erm
s in
Fin
ance
6. What was the net profit %?
100
Hint
GC
SE B
usi
ness
Stu
die
sK
ey T
erm
s in
Fin
ance
7. What was the fixed cost for the year?
Hint
££
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