Business operations

Which of the following is the formula for total costs?

Explain one benefit of job production to a business.

Identify two stages of the process of procurement.

Jameel expects to produce and sell 40 toys per month at a price of £30 each.\nEach toy will cost £6.50 to make. Other business costs will be £80 per month.\nJameel plans to take some money from the business' profits.\n\nCalculate how much Jameel would take each month if he pays himself 80% of the profit.

STC currently uses six suppliers. The amount paid to them is shown in Table 3.\n\nAnalyse one benefit to STC of effective supply chain management.