5.1 Turnover, costs and profit

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EconomieMiddelbare schoolvwoLeerjaar 3

In deze les zitten 26 slides, met interactieve quizzen, tekstslides en 1 video.

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Welcome back!

Slide 1 -Tekstslide

Program
1. Starting up
2. Start 5.1 explanation
3. Assignments
4. Second part explanation 5.1
5. Assignments 5.1

Slide 2 -Tekstslide

Lesson goals
You know what turnover, net profit and operating costs are and how these can be calculated

You understand what VAT stands for and you can calculate with the VAT

Slide 3 -Tekstslide

Chapter 5
The costs of a company

What do you think of when hearing costs?

Chapter 5.1
Turnover
Costs
Net profit
Fixed costs
Variable costs
Breakeven sales

Slide 6 -Tekstslide

Calculating the netprofit
Turnover = 12,000 X € 5
€ 60,000
Purchase value = 12,000 X € 2
€ 24,000 -
Gross profit
€ 36,000
Operating costs
€ 15,000 -
Net profit (or operating result)
€ 21,000

Slide 7 -Tekstslide

Turnover = 10,000 X € 5
Gross profit = € 20,000
Calculate the purchase value
A
€ 70,000
B
€ 40,000
C
€ 30,000
D
€ 20,000

Slide 8 -Quizvraag

Turnover = 10,000 X € 5
Gross profit = € 20,000
Calculate the purchase value

Turnover = 10,000 X € 5 = € 50,000
Purchase value                     .................  --> € 30,000
Gross profit                            € 20,000

Slide 9 -Tekstslide

Assignments
Complete assignments 1 t/m 7 on page 144 + 145

Slide 11 -Tekstslide

VAT is a tax that a business has to pay (when buying inventory) or receives when selling products

The VAT needs to be transferred to the Tax Administration

Consumer price is including VAT, it is mostly 21%

Slide 12 -Tekstslide

Sales price dinnertable      € 1,000
Purchase value                       €     400 -
VAT = 0.21 X € 600  = € 126   to be paid to the tax administration
Or:   € 1,000 X 0.21 = € 210 ---> to be paid
€ 400 X 0.21      €   84 ----> to claim
€ 126 to be paid to the tax administration

Slide 13 -Tekstslide

Consumer price including VAT =
€ 3,630. Calculate the price excluding VAT (21 %)

A
€ 2,867,70
B
€ 2,800
C
€ 4,000
D
€ 3,000

Slide 14 -Quizvraag

Sales price included VAT        € 3,630   121 %
VAT                                                                         21 %
Sales price excluded VAT       € ............. 100 %
€ 3,630/ 121 X 100 = € 3,000
Or faster: € 3,630/1.21 = € 3,000

Slide 15 -Tekstslide

Assignments
Complete assignments 8 + 9

Done? Read the text on p. 147 and continue with assignment 10

Slide 16 -Tekstslide

Lesson goals
You know what turnover, net profit and operating costs are and how these can be calculated

You understand what VAT stands for and you can calculate with the VAT

Slide 17 -Tekstslide

Fixed and variable costs
Fixed costs = costs that do not depend on the number of products produced

Variable costs = costs that do depend on the number of products produced

Slide 18 -Tekstslide

At a volume of 10,000 products, the total costs are € 70,000
At a volume of 15,000 products the total costs are € 95,000
Calculate the variable costs per product

Slide 19 -Open vraag

At a volume of 10,000 products, the total costs are € 70,000
At a volume of 15,000 products the total costs are € 95,000
Calculate the variable costs per product

Increase in costs/ increase in products
€ 25,000/ 5,000 = € 5

Slide 20 -Tekstslide

At a volume of 10,000 products, the total costs are € 70,000
At a volume of 15,000 products the total costs are € 95,000
Calculate the fixed costs

Slide 21 -Open vraag

At a volume of 10,000 products, the total costs are € 70,000
At a volume of 15,000 products the total costs are € 95,000
Calculate the fixed costs
Variable costs: € 25,000/ 5,000 = € 5 per product
Total costs at 10,000 products                € 70,000
Variable costs 10,000 X € 5                       € 50,000 -
Fixed costs                                                       € 20,000

Slide 22 -Tekstslide

TC = 40 Q + 12,000
Calculate the total costs at a production volume of 6,000 products

Slide 23 -Open vraag

TC = 40 Q + 12,000
Calculate the total costs at a production volume of 6,000 products
Variable costs 40 X 6,000 =€ 240,000
Fixed costs                                €     12,000 +
Total costs                                 € 252,000

Slide 24 -Tekstslide

Break even sales
If turnover is equal to all costs --> break-even turnover

Slide 25 -Tekstslide

Break even sales
Sales price cup of hot chocolate € 2
Variable costs per product € 0.50
Fixed costs € 120
Calculate the number of products you have to sell to break even:
€ 120/ (2 - 0.50) = 80 cups of chocolate