Gr 11 Math Lit: Ch 3.9 Cost Price, Selling Price

<p>Divide the total cost by the number of items in the batch</p> Signup and view all the answers

<p>To account for other costs not considered</p> Signup and view all the answers

<p>The price at which an item is sold</p> Signup and view all the answers

<p>To cover all costs involved and avoid a loss</p> Signup and view all the answers

<p>Use the cost price as a base</p> Signup and view all the answers

<p>Comparing the selling price with market prices of similar items</p> Signup and view all the answers

<p>(Quantity Needed / Packet Size) x Packet Price</p> Signup and view all the answers

<p>To calculate the total cost of all ingredients or materials</p> Signup and view all the answers

<p>Total Cost of Batch / Number of Items in Batch</p> Signup and view all the answers

<p>To cover additional expenses beyond the initial cost price</p> Signup and view all the answers

<p>To set a competitive price and increase sales</p> Signup and view all the answers

<p>Not setting the selling price too high above the cost price</p> Signup and view all the answers

<p>Only the cost of raw materials</p> Signup and view all the answers

<p>The selling price becomes more competitive</p> Signup and view all the answers

<p>To ensure the selling price covers all costs and provides a profit margin</p> Signup and view all the answers

<p>To find the cost of each item in a batch</p> Signup and view all the answers

<p>To ensure that all costs involved in making an item are covered</p> Signup and view all the answers

<p>Summing the costs of all ingredients or materials</p> Signup and view all the answers

<p>To account for other costs not considered, such as electricity or rental costs</p> Signup and view all the answers

<p>The selling price needs to be higher than the cost price to cover all costs involved</p> Signup and view all the answers

<p>Starting with the cost price as a base</p> Signup and view all the answers

<p>To calculate the cost price per item</p> Signup and view all the answers

<p>Identify quantity needed, determine available packet size and price, calculate cost of specific quantity, sum the costs, and determine cost price per item</p> Signup and view all the answers

<p>To divide the total cost by the number of items to find the cost price per item</p> Signup and view all the answers

<p>Covering costs and providing a reasonable profit</p> Signup and view all the answers

<p>To find the average cost of each item in the batch</p> Signup and view all the answers

<p>To set a competitive and balanced selling price</p> Signup and view all the answers

<p>The cost price per item is a fraction of the total cost of the batch</p> Signup and view all the answers

<p>To ensure the selling price covers all relevant costs</p> Signup and view all the answers

<p>To avoid making the item too expensive for buyers</p> Signup and view all the answers

<p>To ensure all costs involved in making an item are covered</p> Signup and view all the answers

<p>The business may incur a loss</p> Signup and view all the answers

<p>Identify quantity needed, determine packet size and price, calculate cost of specific quantity, sum the costs, and then divide by the number of items</p> Signup and view all the answers

<p>The cost price of the item</p> Signup and view all the answers

<p>The business will incur a loss</p> Signup and view all the answers

<p>To ensure all costs involved in making a batch are covered</p> Signup and view all the answers

<p>The selling price is always higher than the cost price</p> Signup and view all the answers

<p>The cost price of the item</p> Signup and view all the answers