We still need the theory we learned in the previous sections.
Just a couple questions to see if we remember it...
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Slide 1: Tekstslide
EconomieMiddelbare schoolhavoLeerjaar 3
In deze les zitten 26 slides, met interactieve quizzen en tekstslides.
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Quick review
We still need the theory we learned in the previous sections.
Just a couple questions to see if we remember it...
Slide 1 - Tekstslide
What are the different forms of business organisations?
Slide 2 - Open vraag
The owner's equity of a corporation and a LLC consists of...
Slide 3 - Open vraag
What is a balance sheet?
Slide 4 - Open vraag
An example of a fixed asset is...
A
Stock of goods
B
Bank account
C
Building
D
Owner's equity
Slide 5 - Quizvraag
An example of a long-term debt is...
A
debtors
B
creditors
C
bank account
D
mortgage loan
Slide 6 - Quizvraag
5.3 What are the costs of production?
Slide 7 - Tekstslide
Costs
In order to keep going with your company, you have to earn enough money to pay for all the costs
Costs of goods sold - the amount paid for the products that have been sold
Operating costs - the sum of all other costs
Slide 8 - Tekstslide
Emily bought 70 shirts to sell in her new clothing shop.
A
Costs of goods sold
B
Operating costs
Slide 9 - Quizvraag
Justin paid the bill from the landlord, the rent of his shop was € 1200 this month
A
Costs of goods sold
B
Operating costs
Slide 10 - Quizvraag
Operating costs
Operating costs can be divided in two categories:
Fixed costs - these costs are independent of output
Variable costs - are dependent on output
Total costs (TC) = average variable costs (AVC) x number of products sold (q) + total fixed costs (TFC)
TC = AVC x q + TFC
Slide 11 - Tekstslide
Fire insurance premiums are...
A
Fixed costs
B
Variable costs
Slide 12 - Quizvraag
Packaging material costs are...
A
Fixed costs
B
Variable costs
Slide 13 - Quizvraag
A company's total costs is € 250,000 when they sell 10,000 products. Variable costs are € 7.50 apiece. Calculate the fixed costs of this company.
Slide 14 - Open vraag
A company's total fixed costs are €175,000. The variable costs per product are €7.50. Calculate the total costs at a production of 20,000 products.
Slide 15 - Open vraag
Different types of operating costs
Cost of labour - the sum of all wages paid by an employer
Housing costs - the sum of all costs related to the building
Selling/distribution expenses - the costs related to sales and distribution
Slide 16 - Tekstslide
Robert gives the bank the assignment to transfer money to all employees on the 25th of each month
A
Housing costs
B
Selling/distribution costs
C
Costs of labour
Slide 17 - Quizvraag
Nellie pays the landlord €500 to fix a broken panel in her shop
A
Housing costs
B
Selling/distribution costs
C
Costs of labour
Slide 18 - Quizvraag
John wants an advertisment in the newspaper, it will cost him €75.
A
Housing costs
B
Selling/distribution costs
C
Costs of labour
Slide 19 - Quizvraag
Costs of interest
Costs of interest - the amount of interest paid on loans
Redemption - repaying your loan
Amount of interest per year = percentage of interest x outstanding loan
Slide 20 - Tekstslide
John secured a loan of €300,000 for his enterprise. He has to pay 4.5% interest a year on the outstanding loan. He has to redeem the loan in 30 equal instalments. Calculate the amount of interest John has to pay in the first year.
Slide 21 - Open vraag
John secured a loan of €300,000 for his enterprise. He has to pay 4.5% interest a year on the outstanding loan. He has to redeem the loan in 30 equal instalments. How much interest does John has to pay at the end of the third year?
Slide 22 - Open vraag
Depreciation costs
Depreciation costs - the costs of a decrease in asset value
For example: a car will lose value due to use, after a couple years it will need to be replaced
Yearly depreciation costs = (purchase value - salvage value) / estimated life
Slide 23 - Tekstslide
A machine with a total purchase value of €200,000 has a salvage value, after six years, of €20,000. Calculate the yearly depreciation.
Slide 24 - Open vraag
Frank buys a new car for € 15,000. After five years, he sells the car for 40% of the original purchase value. The depreciation charges per annum will therefore be: