| A | B |
|---|
| break even point | level of output where revenue = costs |
| break even chart | a line graph showing total revenue and costs |
| fixed costs | cost which don't vary |
| variable costs | costs which vary with production |
| total costs | fixed + variable costs |
| contribution | total revenue - variable costs |
| margin of safety | the amount current output exceeds break even output |
| bep equation | fixed costs/selling price - variable cost |
| total revenue | all your sales income |
| average cost | total cost / number of goods produced |
