#business maths

[er-cryptid]

Business Functions

-- revenue function is R(x) = (price per units sold)x

-- cost function is C(x) = fixed cost + cost per unit produced(x)

-- profit function is P(x) = R(x) - C(x)

-- the intersection of R and C is the break-even point

-- the x-coordinate of the break-even point shows how many units must be produced and sold to break-even

-- the y-coordinate shows the income and outcome of money

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[cypherstudys-blog]

24.09.17//

This is my first post ever since I’ve started college.  It has been hectic for the past 4 weeks. Assignments and projects are due on the same day.  Man, it has been tiring. 

SOTD // Mantra of Avalokitesvara - calming Tibetan mantra - very calming and peaceful 

[studykhazana01]

B. Com ||Shivam Sharma || Study Khazana

Want help with Business Maths??? Visit at www.studykhazana.com to see the video lectures of Mr Shivam Sharma; experienced in teaching business maths to the B.Com https://www.studykhazana.com/coursedetails/complete-package-for-programme-business-mathematics

[angeliquesteeleunit9-blog]

CV - Curriculum Vitae

The first example that we saw was simple and didn’t have the correct information needed and was too simple, although the information that they did provide was good enough.

The second CV example we got better than the first, although it held too much information which wasn’t needed and it made it look messy.

On the third CV we looked at, it looked unprofessional as it had images that weren’t appropriate for a CV, e.g. a duck. It also wasn’t the correct layout and ended up looking tacky and immature.

For the first cover letter that we looked at, it had a lot of writing which wasn’t needed, although I liked the layout which they chose because it looked professional and structured.

With the second cover letter, it had a professional and smart layout alongside a good use of colour showing creativity. Although it contained too much information for a cover letter as they’re supposed to just be an overview for a CV.

The third cover letter we saw was my favourite as it had the appropriate amount of colour used and it had the right amount of writing which contained the correct information that was needed for the job, without going on too  much about irrelevant stuff.

What to include in a CV:

-contact information (phone number, email, address)

-education and qualifications (school, college, GCSE’s)

-personal information (about myself)

-work experience (previous jobs, placements)

-skills (e.g. barista)

-training courses (first aid, beauty)

-computer and tech skills (coding, photoshop)

-languages (Spanish, Chinese)

-Interests (fashion, sports)

-achievements (marathons, awards)

-references (previous jobs, education)

Tips:

-Avoid graphics and images

-Correct grammar and spelling

-Laid out appropriately

-Factual and believable

-Concise

-Max 2 sides of A4

-Easy to read

-Relevant

-Match to the market or job roll you’re applying to

-PDF and email friendly

-Avoid weak words: Contributed, established, implemented, negotiated, organised.

Above I have attached two images of the task which got handed out, involving completing sections on this sheet which help with our creative CV. I have tried my hardest to fill out as much as I can, although I did find this task hard as it is about self confidence and proving yourself, as I am young it is hard as I haven’t had a lot of experience in the workforce just yet, which is why I’m looking forward to learning more in the Unit 9 sessions. 

[fatladystyleco-blog]

costing products

We had a really awkward experience in class with costing sheets today and I thought learning how to cost products might be fun/interesting. This would be like, if you were making a piece of jewelry and wanted to sell it to retailers or direct on etsy.

Material costs: Look up the price on all individual components of your piece and trying to find the best price/quality you can (while keeping in mind what else is selling to your demographic and your ideal price point)

So for our example we were doing beaded 20" necklaces with 2.5" medallions. The necklaces have 12mm wooden beads in alternating bright yellow and green. So our material list looked like:

10" green beads (beads are sold on strands so this was the easiest way to calculate)

10" yellow beads

lobster clasp

2 jump rings (one to put the medallion on, one to catch the clasp)

beading wire

medallion

(I am not a jewelry designer but I think we would also need a spacer between the beads but since this is a rough cost worksheet I am not too concerned about it)

So, say 32" of green beads is $3 - divide $3/32 to get cost per inch $.093 an inch, at 10 inches would be 94 cents. Same with yellow. Clasps range from 5 cents to 50 cents and higher depending on the style (like multi-strand closures, etc). Price the beading wire, it comes as a # of feet on a spool and calculate the inch cost the same way as the beads. Add up all of those costs and that's materials.

Labor - how many of these can you do an hour, and how much do you get paid an hour? YES you should get paid - think about it, if you can't afford to pay yourself, how can you ever scale your business up and possibly hire someone else if you got popular? For our example we said it would take 10 minutes to string and finish a necklace and we paid $20/hour - so $3.33 in labor each. 

There is also the cost of hang tags and attaching them and depending on your method for display or tags it can be very inexpensive (less than a dollar) or more expensive (in velvet lined boxes or something) - you need to keep track of these costs because they will affect your profit. 

You should usually at least double your materials+labor costs for overhead (insurance, rent, etc) - so in our example our necklace materials + labor was about $9 plus $9 overhead. $18 suggested retail. This is where many etsy sellers stop, because they sell directly so if they make the $9 overhead they consider themselves ahead. But retail should be about double (or more) of the wholesale cost. So our necklace we suggested selling it at $39.95.

The most important thing is that you think about your materials in the context of each piece you are making - if a roll of beading wire is $4 but makes 60 necklaces, don't count the cost in your materials at $4. This was the biggest mistake we saw in the sheets.

For example, someone was using 6x6" of faux leather that cost $8/sq foot. But they counted that $8 as their material cost, even though their item was 1/4 of the material so it would be $2.

When we did critiques I showed them how to take their retail price from $300 to $40 - by buying supplies in bulk, by pricing per item, correctly figuring labor costs, etc. 

When buying supplies try to buy in bulk, most places give you a discount if you buy 200 findings vs if you buy 10. IF you are in a place where you are trying to make and sell jewelry full time, it's usually worth the cost to buy more for the long term. If you're making a few necklaces, it probably doesn't make any sense to buy 200 clasps. These are just things to keep to keep in mind when you're pricing. Don't price your item as if you're purchasing your findings in bulk if you're buying small packs at retail craft stores. The most important thing in costing is that you are actually recovering all of your expenses so that you don't lose money selling your product.

Ok well I hope this made sense and maybe helped you if you are thinking of becoming a professional craft-person and aren't sure how to start figuring out what you should charge. If you have any questions let me know, I am happy to help with specific examples. 

[looneytutor-blog]

Maths, Physics and MATLAB Grinds in Limerick/Clare Area

Subject(s): Any Physics or Mathematics Module. Examples include science maths, business maths, engineering maths, mechanics, thermodynamics, electronics, modern physics, MATLAB, Maple and C language.

My Experience includes giving grinds in Engineering Maths and Calculus, Leaving Cert Maths and Physics and Teaching undergraduate maths. My qualifications include a Ph.D. in Applied Mathematics and a B.Sc. in Applied Physics.

I have four years of experience teaching mathematics at a university level to students spanning a number of disciplines at a wide range of skill levels. I have been the teaching assistant for a number of different mathematics modules. These include engineering mathematics, science mathematics, business mathematics and linear algebra. I have considerable experience in the area of computing and its application to mathematics and how technology can be used to support learning. Additionally, I am able to provide support to 3rd level science and engineering students who require assistance with various software packages including MATLAB.

I am based in Castletroy. I am happy to do grinds in the student's home. I am able to travel within reason to different parts of Limerick or Clare. 

Contact Name: Michael Email: [email protected] or [email protected]  Phone: [phone]