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QR Challenge: Business Math: Costing/Breakeven Scavenger Hunt

Created using the ClassTools QR Treasure Hunt Generator

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Teacher Notes

A. Prior to the lesson:

1. Arrange students into groups. Each group needs at least ONE person who has a mobile device.

2. If their phone camera doesn't automatically detect and decode QR codes, ask students to

3. Print out the QR codes.

4. Cut them out and place them around your class / school.

B. The lesson:

1. Give each group a clipboard and a piece of paper so they can write down the decoded questions and their answers to them.

2. Explain to the students that the codes are hidden around the school. Each team will get ONE point for each question they correctly decode and copy down onto their sheet, and a further TWO points if they can then provide the correct answer and write this down underneath the question.

3. Away they go! The winner is the first team to return with the most correct answers in the time available. This could be within a lesson, or during a lunchbreak, or even over several days!

C. TIPS / OTHER IDEAS

4. A detailed case study in how to set up a successful QR Scavenger Hunt using this tool can be found here.

Questions / Answers (teacher reference)

Question

Answer

1. What cost curve is shown as a horizontal line in the short term?Fixed cost curve
2. What is the formula for calculating breakeven point?FC /(P-VC)
3. Given fixed costs of $5000, unit price of $5 and unit variable cost of $1; what is the breakeven point?1250 units
4. How much profit/loss is made if 500 units are sold at $8 each, with fixed costs of $1500 and unit variable costs of $2?$1500
5. What is the formula for calculating the breakeven point needed to achieve a target profit amount?FC+Target Profit /(P-VC)
6. Calculate the breakeven point from the following information: Fixed Costs $12000, Price $10, Variable Cost $2?1500 units
7. Calculate the breakeven point from the following information: Fixed Costs $12000, Price $10, Variable Cost $2, Target profit $6000?2250 units
8. What is the formula to calculate margin of safety?Actual Output - Breakeven point
9. What is the fixed cost if 2000 units with a variable cost of $4 each results in a total cost of $11000?$3000
10. What is the variable cost if 3000 units with a fixed cost of $4000 each results in a total cost of $11500?$2.50
11. Actual output is 1500 units. Fixed costs are $7000, price is $10 and variable cost is $3. What is the margin of safety?500 units
12. State the formula to calculate contribution.Price - Variable Cost
13. State the formula to calculate total contribution.(P - VC)xQ or TR-TVC
14. Calculate the contribution per unit: Fixed Costs $5000, Price $8, Variable Cost $5.$3
15. Calculate the breakeven point: Fixed Costs $5000, Price $8, Variable Cost $5.1666.6667 units but it should always be rounded to the next whole unit ie 1667
16. How much profit or loss is generated if the company is achieving its breakeven output target?nil
17. Fixed costs are always described as $xx per ????time period eg per month or per year
18. Variable costs are always described as $xx per ????unit eg per teddy bear

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_cost_curve_is_shown_as_a_horizontal_line_in_the_short_term?

Question 1 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_is_the_formula_for_calculating_breakeven_point?

Question 2 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=Given_fixed_costs_of_$5000,_unit_price_of_$5_and_unit_variable_cost_of_$1;_what_is_the_breakeven_point?

Question 3 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=How_much_profit/loss_is_made_if_500_units_are_sold_at_$8_each,_with_fixed_costs_of_$1500_and_unit_variable_costs_of_$2?

Question 4 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_is_the_formula_for_calculating_the_breakeven_point_needed_to_achieve_a_target_profit_amount?

Question 5 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=Calculate_the_breakeven_point_from_the_following_information:_Fixed_Costs_$12000,_Price_$10,_Variable_Cost_$2?

Question 6 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=Calculate_the_breakeven_point_from_the_following_information:_Fixed_Costs_$12000,_Price_$10,_Variable_Cost_$2,_Target_profit_$6000?

Question 7 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_is_the_formula_to_calculate_margin_of_safety?

Question 8 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_is_the_fixed_cost_if_2000_units_with_a_variable_cost_of_$4_each_results_in_a_total_cost_of_$11000?

Question 9 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=What_is_the_variable_cost_if_3000_units_with_a_fixed_cost_of_$4000_each_results_in_a_total_cost_of_$11500?

Question 10 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=Actual_output_is_1500_units.__Fixed_costs_are_$7000,_price_is_$10_and_variable_cost_is_$3.__What_is_the_margin_of_safety?

Question 11 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=State_the_formula_to_calculate_contribution.

Question 12 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=State_the_formula_to_calculate_total_contribution.

Question 13 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=Calculate_the_contribution_per_unit:_Fixed_Costs_$5000,_Price_$8,_Variable_Cost_$5.

Question 14 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=Calculate_the_breakeven_point:_Fixed_Costs_$5000,_Price_$8,_Variable_Cost_$5.

Question 15 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=How_much_profit_or_loss_is_generated_if_the_company_is_achieving_its_breakeven_output_target?

Question 16 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=Fixed_costs_are_always_described_as_$xx_per_????

Question 17 (of 18)

 


Business Math: Costing/Breakeven Scavenger Hunt: QR Challenge

https://www.classtools.net/QR/decode.php?text=Variable_costs_are_always_described_as_$xx_per_????

Question 18 (of 18)