The following is an extract of financial information for a small gardening business - Edexcel - GCSE Business - Question 17 - 2016 - Paper 1
Question 17
The following is an extract of financial information for a small gardening business. It shows the costs, revenues and profit.
Fill in the three blanks.
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Worked Solution & Example Answer:The following is an extract of financial information for a small gardening business - Edexcel - GCSE Business - Question 17 - 2016 - Paper 1
Step 1
Total revenue for September
96%
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Answer
To determine the total revenue for September, we can use the profit formula:
extProfit=extTotalRevenue−extTotalCost
From the table, the profit for September is -£1 450, and the total cost is calculated by adding fixed costs and variable costs: