Identity Is A Combination Of Two Individual Perceptions

Bolton-Ford Drue Professor: Mahala Pacs 1 22 October 2015 My Identity Is Identity is a combination of two individual perceptions, it refers to both a sense of who we are as a person and as a contributor to society. The first form of identity is self identity or true identity, which is the concept of yourself that you identify. The second form of identity, outer identity, is the concept or way others perceive you. Both identities collectively make up an individual and are the product of many years of life evolvement and transformation, but where they differ is the perspective. My identity is a uniqueness that has come as a result of my family, ethnicity, and Media. And it is this knowledge about my identity that I have attributed to my†¦show more content†¦My Dad was a very giving and loving person. Growing up in Los Angeles the presence of those less fortunate than me was ever present. One time when I visited my father s office at the end of the day I noticed a younger man waiting in the back of the office in the parking lot. I remember his cloth es looking a bit worn and he had a shopping basket which I could see a pillow and a large discolored comforter. I signaled to my dad that there was a man waiting in the parking lot. As my dad approached the parking lot I could see the mans faces begin to light up and smile form. The man began to greet my dad and to my surprise the man knew my father s name. After they talked for a little while me and my dad left and the man stayed behind unpacking his cart in the parking lot. I asked my father what the man wanted and he began to tell me the young man s story and how he was a veteran who had a mental illness and is now homeless. My father was letting the man sleep in the parking under the buildings awnings. My father was reputable for these small acts of kindness and he always spoke of helping others. He is the reason I believe myself to have hospitable, charitable and trustworthy traits. And also why I try to radiate positivity and be affirming. I also get many of my traits from my mother. I always remember having a special connection with my mother. I would help her out around the house and watch in amazement as she would design, build, and fix things around

Heritable Genetic Information In Escherichia Coli In...

Heritable Genetic Information in Escherichia Coli in Transformation and Deoxyribonucleic Acid A report for Biology 2000 written by Alana Pay : 001196733 Introduction Griffin was a scientist that showed that there was a non-living component to heritability between organisms, although he had not yet discovered what exactly was the heritable component. However, during this time period, it was a common belief that the heritable material was contained within the protein of the organism, not the DNA that is now held in the truth. In the Avery and company experiment, they expanded Griffin research to pinpoint the exact location of the heritable information by breaking down cell components until the final product allowing transformation was†¦show more content†¦The experiment completed by Stanley et al, also used the transformational effectiveness of E.Coli to complete their R-Factor DNA study, so the effectiveness of using E.Coli in this type of experiment is well documented. (Stanley et al, 1972) The antibiotic that was used in our replication experiment was kanamycin, which is a amino-glycoside and it proceeds to block the areas that initiat ion complexes may occur. (National Center, 2017) A model system allows us to witness the effects of an experiment in many generations and in an organism that grows in a very quick fashion. The genetic growth is generally very similar to that of humans so that we may compare and contrast what may happen in humans, or what will before we start clinical trials of certain chemicals or antibiotics, in this case, that may have a positive or negative impact on the human populace. The objective of this experiment is to conclude that the results of Griffin and Avery et al, can be duplicated in a way that will allow us to corroborate their results. The null hypothesis that this repeated experiment revolved around was that the DNA involved from the E. Coli would not undergo transformation and therefore grow a strain, which means that there would be growth on any of the plated specimens. This leads to the alternative hypothesis that only the plates that involved the DNase would not have growth as it has the heritable genetic information that would allow the transformation to occur andShow MoreRelatedThe Theory Of Bacterial Transformation1417 Words   |  6 PagesBackground theory: Bacterial transformation is a versatile tool of central importance to molecular biology (The American Phytopathological Society, 2016; The Biotechnology Education Company, 2003). It is a process whereby bacterial cells take up and express exogenous DNA, resulting in the expression of a newly acquired genetic trait that is both stable and heritable (The Biotechnology Education Company, 2003; Bruce Roe, n.d.). For transformation to take place, the bacterial cells must enter a particularRead MoreThemes in the Study of Life5755 Words   |  24 Pagessimple, one-sentence definition. ââ€"‹ We recognize life by what living things do. Concept 1.1 The themes of this book make connections across different areas of biology. †¢ Eight unifying themes will help you organize and make sense of biological information. Theme 1: New properties emerge at each level in the biological hierarchy. †¢ Each level of biological organization has emergent properties. †¢ Biological organization is based on a hierarchy of structural levels, each building on the levels below

Analysis of Extremely Loud free essay sample

Close is a wonderful example of a novel that deals with the many facets of life after a tragic event. The choice of love over fear is thrust upon the characters through inconsolable grief (Jain). Each of the main characters in the book has lost someone who they care about greatly, and they all must find different and unique methods of coping with this fact whether it be writing letters to an unborn son or going on a city wide search for a lock. The irony of the title is that tragedy is loud and close, but the people who can share and relieve grief such as family are all too quiet and far away (Jain). The major theme of the book is death and the ways one comes to terms with the loss of a loved one (Gina). Jonathan Safran Foer, the Jewish-American Author of this novel as well as Everything is Illuminated, a book about the Holocaust, did not experience a great loss while he was growing up (Solomon). He was born in 1977 in Washington and later went on to be the valedictorian of his high school and study philosophy in college (Solomon). In other words, why does Foer want to write about tragic events such as these? He says, â€Å"Both the Holocaust and 9/11 were events that demanded retellings (Solomon). † He also stated, â€Å"As a writer, I am trying to express those things that are most scary to me, because I am alone with them. Why do I write? It’s not that I want people to think I am smart, or even that I am a good writer. I write because I want to end my loneliness. Books make people less alone (Solomon). † The author thus writes of these tragedies to help others alleviate their solitude. One of the characters that deal with this theme is Oskar’s mother. She loses her husband, Thomas, in the World Trade Center collapse. Although they never find his body, she has a funeral with an empty casket as a way to manage with the death. She also attends a group for people that have lost loved ones. Because he lost his wife and daughter in a car accident, Ron also goes to the group, and it is here that Oskar’s mother and him meet. Oskar does not like that his mother spends an extensive period of time with Ron because he is afraid that if she falls in love Ron would replace the memory of his father. Even though Oskar thinks that his mom does not share the same extent of pain as he does, she cries quite frequently but never in front of her son. As Oskar pushes away from his family following the same flight as his grandfather, the tension in the story lies in the hope that in the end he will choose love over fear (Jain). Oskar’s grandmother not only loses her son, but also her family and friends in the bombings of her native city of Dresden, Germany. She also is without her husband after he leaves when she is pregnant. Because she lost her family in the bombings, it creates a dysfunctional relationship with her husband based solely on this shared loss. They need rules just to live in society and create something and nothing zones so they can live in peace. It is almost as if they have to have each other just because they both lost so much on the fateful night in Germany. When her husband Thomas leaves, the grandma states that she used up all her tears and now feels empty. Although this does happen, she still attempts to keep living. The grandfather’s situation is much more saddening. He completely lost everything that he defined himself and loved in the Dresden bombings. The loss and grief that remains of his first love and parents torture him eventually rendering him mute and dependant on a daybook along with his tattooed hands (Jain). Because of this he thinks, â€Å"The meaning of my thoughts started to float away from me, like leaves that fall from a tree into a river, I was the tree and the world was the river. † When he finds the sister of Anna, he asks her if he can make a sculpture. She eventually realizes he is trying to recreate his first love after he could never find her during the bombings. After this, they get married, but one of their first rules is that there will be no children. He is still afraid of losing something that important once again. The grandmother does get pregnant even though they have that restriction. Shortly after this, he left back for Dresden trying to find himself. The grandfather did not want their son to turn out like him. Instead, he wished for him to actually enjoy life and make the most of it. He obsessively wrote letters to Oskar’s father explaining himself to him (Jain). Thomas Schell never completely comes to terms with losing everyone that he loved in Dresden as well as himself. Both grandpa and grandma both try desperately to explain themselves to their descendants in an attempt to create a normal life after tragedy (Jain). Oskar’s self punishment stems from the five phone messages from the â€Å"worst day† which he hid from his family, and how he desperately tries to hold onto everything that reminds him of his father. The secret was a hole in the middle of me that every happy thing fell into, he says. Oskar has to find a way to stay close to his father fter his death. The searching of the lock and key is representative of the growth of Oskar’s character from disbelief and grief to acceptance. The effect of the tragedy on him was enormous causing him to lie compulsively, invent situations, give himself bruises, create a Stuff that Happened to Me book, get â€Å"heavy boots†, and develop fears mostly because of his â₠¬Å"inventing† what could happen to him. He also feels that he is alone and has no one to share these feelings with not even his mother. Not only does he not respect his psychiatrist, but he also feels his mom is not mourning as he is. However, at the end of his journey he meets his grandma’s renter. Although Oskar does not know it is his grandfather, he feels comfortable enough to tell him his circumstances. He allows himself to show his grandfather the only part of his father remaining that nobody else had: the phone messages his father left at the house on the â€Å"worst day†. Oskar finally revealed the messages to somebody helping to alleviate the self punishment they have caused him. The two of them devise a plan that will put their minds at ease. â€Å"He wrote, ‘Why would you want to do that? ’ I told him, ‘Because it’s the truth, and Dad loved the truth. ‘What truth? ’ ‘That he’s dead. ’† They decide to dig up the casket of Thomas Schell. Oskar knew that the casket was empty but the only way to substantiate this to his mind was to dig it up. Oskar had finally come to terms with his father’s death, and was finally able to move on. It also gave Oskar’s grandpa a chance to finally give his son all the letters he had written, but had never been able to send. Each character in Extremely Loud Incredibly Close is faced with the difficult passing of a loved one. They all have several ways of coming to terms with this.

Profitability and Liquidity Essay Example

Profitability and Liquidity Essay Profitability:Profitability is the making of gain in business activity for the benefit of the owners of the business.It is vital to my business as it allow my business to keep running.This is because by making a profit: Means my business is of interest to people and so by making a profit it is prevented from closing down. Where I have borrowed money, for example, for the set up of my business, I will take a loan from the bank, by making a profit I am then able to pay off that money. In the future, if I am looking to expand my business I am able to as I have enough, or even extra funds to use. This shows that passion4fashion is doing well and its performance is improving. I can be rewarded for the risks that I have taken in order to run the business.Profitability is a vital part in my business as I have to ensure the list above is carried out, once I have made a profit, e.g. pay bank loans back. As the owner of passion4fashion I would like to ensure all the hard work I put into the bu siness will be paid off, I believe that the profit is my reward for my entrepreneurial activities. Failure to gain profit leads to an unsuccessful business. By making a profit and by that profit gradually increasing let me know that my business is improving over time. However, as passion4fashion is a new business I cannot expect a profit immediately. Even though I will not gain a profit immediately, I will still need some sort of finance in order for my business to survive in the short run therefore I will have to have a sufficient amount of liquid resources. This is because liquid resources can be turned into cash within 12months. This will allow me to pay off immediate bill and wages etc.LiquidityLiquidity is a term that refers to the ability with which assets can be converted into cash.As I may not be making a profit within the first twelve months, I will need a way in which my business to survive. I believe it is possible to survive without making a profit within the first year as I can use the cash from liquid sources. These include cash in hand and money I have put either in a savings account or have as savings.Hence, liquidity is so important as if passion4fashion has a liquidity shortage, then it means there is no available cash. Cash is needed to pay for immediate bills, for example; wages, electricity bills, etc. without these bills being paid it is impossible for me to continue with my business.If passion4fashion did have a liquidity issue, I could sell off any raw materials and fixed assets that are unnecessary for running my business. This would allow me to make cash on them for a quick source of money. Also, I could retrieve any debts that I am owed in order to gain more money; however, as I am opening a new business it is unlikely that I have debtors already. This action will only take action if there is a severe liquidity problem within my business.In general, the productivity and liquidity is crucial because I will need to monitor the financia l position that my business is in. If I cannot make a profit, I will most definitely need liquid sources that are easily available.Task C2Assets, Liabilities, Expenses RevenuesAn asset is property owned and used by the business. The assets I have will consist of: Current Assets: current assets are those that are available as cash and other assets that could be converted into cash within a year. Current assets will be use up in production and include stock and cash.The stock; for my business the main stock is T-shirts; this will include a range of colours and sizes, and creative-flex (this is the printing ink) there will also be a range of colours of creative-flex. I will re-order the two main stocks on a monthly basis. Fixed Assets: an asset to a business that is central to its operation and not traded. My fixed assets are what I will buy to be used over a long period of time; this includes the premises I will be running the business in, and the printing press machine.A liability i s the money that is owed, all debts and financial obligations. There are 2 types of liability: Long term liabilities- An investors legal responsibility for no greater proportion of a companys debt than is represented by the value of the financial stake in the business. These are finances that are not due to be paid back for atleast 12 months. An example is money that is to be repaid in bank loans. Current liabilities- these are finances that are due to be cleared before the end of the financial year. This includes payment to suppliers, overdrafts, short term loans, and annual taxes.Revenue: the revenue is the income that comes into the business, due to the sale of products or services. So the revenue for passion4fashion is the total income that I get from selling the personalised T-shirts.Expenses: these are overheads of the business. It is all money spent for business purposes. For my business this will include; broadband internet, mobile phone contract, printing press machine, T-s hirts, printing ink, premises, stationery, computer, etc. (all expenses named in cash flow forecast)Task C3Profit and Loss AccountMy profit and loss account will show calculations of the net profit or loss made within my business. This account includes the income that has been received and the expenditures on resources that will be used within the next 12 months.Overall, this contains information about costs and profits, also revenue that I will record over the year.The main details of a profit and loss account consist ofTurnover:This is the revenue that I will generate from my business. The turnover minus the cost of sales will show my gross profit.Cost of Sales:The cost of sales is the expenditure that needs to be reached in order to produce goods.Gross Profit:This is figure is found by cost of sales turnover. Gross profit is the profit that my business will make before any expenses have been taken away.Expenses:These are also known as overheads. The expenses are not associated w ith production.Net Profit:This is the total amount of profit that is left over.The Profit and loss account that I have created displays that for the initial year of trading that I have made a net profit of à ¯Ã‚ ¿Ã‚ ½29,388. As, I am a new business it is not expected to make a profit for the first year. However, if I keep to the budget and if business continues in the way I have forecasted, then Passion4Fashion should make the high profit I have predicted. I wish to maintain, and exceed this profit in years to come and therefore that means not making a loss. This means I will need to increase sales, I could also decrease the cost of my expenses, however as I am not making a loss I do not need take extreme actions.Profit and Loss AccountPassion~4~FashionFor end of initial year:TurnoverCost of SalesGross Profit33,2988,01032,288OverheadsRentAdvertisement and websiteEquipmentLoan6003002000à ¯Ã‚ ¿Ã‚ ½2900Net Profit32,2882,900=à ¯Ã‚ ¿Ã‚ ½29,388Underneath is the profit and loss account for passion4fashion:Task C4Balance SheetMy balance sheet will show the assets and liabilities for Passion4Fashion at one time. The balance sheet below shows the assets and liabilities of my company within a year.Balance Sheet forPassion4Fashion:Fixed AssetsPremisesEquipmentà ¯Ã‚ ¿Ã‚ ½Ãƒ ¯Ã‚ ¿Ã‚ ½600Current AssetsStockCash in BankCash in handCurrent LiabilitiesTrade CreditorsNet Current AssetsLong term LiabilitiesBank LoanNET ASSETS FINANCED BYCapitalOpening CapitalAdd Net profitLess DrawingsClosing CapitalTask C5Cash flow forecastThe cash flow forecast is a vital aspect in the planning process when setting my business up. Overall, my cash flow forecast will show the amount of money coming into the business and going out of the business a year. However, it is separated and presented in months.The advantage of producing a cash flow forecast is to help me control and maintain my cash. By predicting in which months I will have more money I am then able to take risks or expand my busine ss. Also I need to ensure passion4fashion remain liquid meaning there is enough money coming into the business so I am able to repay debts and bills.By creating a cash flow forecast and thinking about the future of the company I can plan ahead, enabling me to estimate future costs and revenues. Also, by creating a cash flow forecast I not only see when I have more money coming in, but also I can see when I have little money coming in aswell, this allows me to prepare or save for those times. By having a estimate of what the future of my business will be like I can save well before time in order for my business to remain liquid or else my business will fail.As I have previously explained, when setting up my business I will need to borrow money, this will be a loan borrowed from the bank. However, as that money is needed to be paid back I will have to prove to the loaners that the business I plan on starting up will be successful and will be able to pay back the loan. By producing a c ash flow forecast I have enabled myself to present to the business how their money is going to be spent, and paid back. Also, a cash flow forecast is an effortful task and therefore it shows the bank managers that I am determined to make this business reach its maximum potential.I have researched many banks in order to find the best loan for my business. I have found that Lloyds TSB offer the best loan, and I will requesting a loan of two thousand pounds. As the owner I feel it is also my duty to take a risk and put in four thousand pounds of my savings into the business. I believe in myself that I can make the business work and achieve the aims and objectives set. However, it is my job to persuade the Lloyds TSB that I am worthy of the loan. So in order to do so I have put together my cash flow forecast to allow the bankers to see that my business plans are practical and attainable. Also, if I knew from looking at the cash flow forecast that my business would fail I would be very h esitant to put in four thousand pounds worth of savings. At the end of the business year I can then compare my cash flow forecast with the actual cash flow. This allows me to see where it is I have over spent, or even not spent enough. But most importantly, it allows me to make any adjustments for the following year. So my cash flow forecast for each year gradually becomes more and more realistic and is closer to the actual cash flow.I have used a spreadsheet to present my cash flow forecast, I have presented how much money I have estimated to flow in and out of my business during the first year. On a monthly basis I have calculated that my business make sales worth à ¯Ã‚ ¿Ã‚ ½1900 for the first three months. I plan to sell 120 T-shirts a month, at the average price of à ¯Ã‚ ¿Ã‚ ½15.83. I have only calculated an average price as the price may vary depending on the type of T-shirt the customer requires, e.g. larger logos will have an additional charge.I have increase my estimated s ales figure after three months as during the 1st three months I plan to heavily advertise my business in the local newspaper, and become a recognised brand. The advertising will come into effect after three months. And so by the time of April and May I will have a larger market share.I have estimated that my busiest months of the year will be June and July. I have again increased my estimated sales figure to à ¯Ã‚ ¿Ã‚ ½4600, I hope for this increase as the weather will be getting hotter and therefore people are more likely to buy and wear T-shirts. Also, during the summer, I have researched that people, mostly students, go on holiday. As they go in large groups they buy personalised T-shirts stating where they are going, and their name or the name of their group. For example;During those two months I plan to sell 290 T-shirts per month (rounded up to nearest 10) this will increase my revenue by à ¯Ã‚ ¿Ã‚ ½1250, with sales rising from à ¯Ã‚ ¿Ã‚ ½3,350 in May to à ¯Ã‚ ¿Ã‚ ½4,600 i n June.However, during the months of August and September I have realistically decreased sales to be the same as April and May, this is because the weather will be getting colder and therefore people will not buying or wearing as many T-shirts. I have also estimated that the sales drop after September until December, this is because the weather is going to be extremely cold and it is highly unlikely that T-shirts will be worn. However, I expect to still get sales during these months as October, November, and December are months of which people do Christmas shopping, and with the aid of advertising a personalised T-shirt maybe the perfect Christmas present.In total the cash flow forecast shows me that I am expecting a total of à ¯Ã‚ ¿Ã‚ ½34,000 in sales during the first year of trading.As a business I will have expected costs that the business will need to meet. These include the materials used to make my T-shirts; this is known as my direct costs. For the first three months I will have à ¯Ã‚ ¿Ã‚ ½245 for stock and à ¯Ã‚ ¿Ã‚ ½265 for materials (T-shirts). As I plan to sell more after the first three months this means I will have to spend more on materials and stock, so raising the total of both from à ¯Ã‚ ¿Ã‚ ½510, to a total of à ¯Ã‚ ¿Ã‚ ½760 in April and May. The direct costs will keep rising until August, and the decrease again in October through until December.The premises I have decide to use is my Uncles stationery shop. I have discussed the matter with him. He agreed to give me a spacious (enough to make and sell my T-shirts) part of his shop if I pay him rent of à ¯Ã‚ ¿Ã‚ ½50 a month, this is because it is an unused space and he feels he has no gain from using this space, so the extra à ¯Ã‚ ¿Ã‚ ½50 a month can do his company some good aswell. Also, by advertising my company they will enter his shop in order to purchase a T-shirt, and customers may decide to pick up some stationery on there way in or out. However, I agreed that after the first yea r, after sales increase, I will also increase the rent I pay.I have also included fuel costs which I have estimated to be à ¯Ã‚ ¿Ã‚ ½30 a month, this is because I will only be driving to and from work, and occasionally I may have to either go to the bank or pick up supplies. But on the whole I will not be travelling much. Also, I have decided that on large orders, if they are unable to pick up the T-shirts I ill be willing to drop them off. This will only be within a 10 miles radius of my shop.My car tax is à ¯Ã‚ ¿Ã‚ ½125 a year, and I have received a quote from AA for my car insurance which is totalled to à ¯Ã‚ ¿Ã‚ ½600 a year. This is because I learnt to drive from AA driving school, and as a result I get discount off my car insurance. I have included this in my cash flow forecast as 12 monthly instalments. My mobile phone service is à ¯Ã‚ ¿Ã‚ ½120 a year, on O2 as I feel they give the best deal for the lowest amount of money.The net cash flow is the sales minus the expenditur e. If sales are more than expenditure than the net flow will be positive, however, if expenditure is more than sales then net flow will be negative. Looking at my cash flow forecast I have a positive net flow, this is because my total sales are more than my total expenditures. I have a net flow of à ¯Ã‚ ¿Ã‚ ½16,649. As T-shirt sales increase so does the net flow, this is shown as by looking at my cash flow forecast I can see that during the months of June and July (boxes G48 and H48 in cash flow forecast) my net flow increases by à ¯Ã‚ ¿Ã‚ ½225 compared to that which it was in May.The opening balance is the amount of money my business will have at the start of each month.My cash flow forecast shows that the opening balance in January is à ¯Ã‚ ¿Ã‚ ½0. This is because I have not sold any T-shirts yet. As my business prolongs and I am gradually selling more T-shirts my opening balance will increase every month, this is because sales will be higher than expenditure.My closing balance shows the amount of money that is left at the end of the month.The closing balance for one month equals the same as the opening balance for the month after, and is calculated by adding the net flow to the opening balance.The closing balance for January is à ¯Ã‚ ¿Ã‚ ½5,997 this is reasonably high for the first month.After January the closing balance keeps increasing, however it increases more after June and July than any other months.Normally businesses either have liquidity issues as they do not have a positive cash flow. They may decide to take out extended loans, and in the future if I my business does have liquidity problems I will have to do this. However, for the first year according to my cash flow forecast my business will not have a negative cash flow. This is because my expenses are low in comparison to my payments. By showing the bankers this, it is a persuading factor in order for them to give me a loan.Task C6BudgetA budget is a major part for financial planning; it is used to see how much money is available for future and present use. In order to keep my finances in order and in effect I will have to produce a budget every month.The main functions of having a budget are; Planning: by having a budget I can plan for the future incase problems occur and I fall short of money. Directing: by budgeting the money I get I can put some of it towards motivating my employees, so they work harder in order to achieve their goals and targets set. Also, I can see exactly where the money is going, and this will mean that no one else can spend the money unnecessarily, including myself.A budget is useful as it gives me an indication of where I can spend and save money. This is extremely vital as it can prevent the assimilation of debts. The budget can help with the successfulness of my business; this is because I can see where it is necessary to spend my money in order for it to go further. I can also prioritise what I need to buy ahead of time; again, this will enable my business to go further and for me to avoid debts as they will be my first priority.There are different types of budgets; some of them are listed below; Production Budget- this type of budget is used to plan levels of production.This will show the amount of units for each product that will need to be made in order to reflect the revenue plans shown in the sales budget. Sales Budget- this is the budget I am likely to use, I feel this is the most important type of budgeting as it effects other types of budgeting, as you can see from above (affects production budgeting). This is caused as if the amount of sales increases during the year, the amount of production will also need to be increased (as demand goes up, supply has to follow). By using this type of budgeting I can gain a clearer insight on where my money is going.Variance analysisVariance analysis is a budget that can be carried out for both revenue and costs. Below is a list of the four types of variance analysis:1. S ales Variance; this is the difference between budgeted sales revenue and actual revenue. For example if a new competitor comes into the market, that would decrease my sales, and as it was unexpected it would make a large difference when comparing predicted revenue to actual revenue.2. Materials variance; this is the difference between predicted cost of materials and actual cost of materials. For example, if the price in cotton (the T-shirt material) rose unexpectedly yet rapidly I would have to increase the selling price of my T-shirts. Thus as the increased price in cotton was not expected, it would have a great effect when comparing my predicted cost of materials to the actual cost of materials. Also, the increase or decrease in inflation will have an occurring difference in the price of the materials I buy.3. Fixed Overhead Variance; this is the difference between the predicted fixed overhead and the actual overhead. An example relating to passion4fashion would be if the rent inc reases within the first year, this would not be planned as I have agreed for the rent to increase after a year. And so with the unexpected circumstance there will be a different between predicted and actual price of fixed overheads.Variance analysis will allow me to view the overall performance of my business as I can see where and why variance has occurred.Task C7Break evenThe point where my business will break even is when the total revenue from sales is exactly the same as producing the T-shirts. The level of output where total costs and total revenue are the same is known as the break even output. The formula I will use to assess whether or not I have broken even is;The fixed costs are those that remain the same for the business throughout the year for example, my premises, and machinery. Also, the repayments I make to the bank will remain the same during the year so that can also be counted as a fixed cost.The contribution for my business would be the cost of producing the T-sh irt subtracted by the sale of the T-shirt.The fixed cost for my business equals, and the contribution equals à ¯Ã‚ ¿Ã‚ ½15.83-à ¯Ã‚ ¿Ã‚ ½4.25, this gives me a total contribution of à ¯Ã‚ ¿Ã‚ ½11.58.Break even can help me monitor the performance of passion4fashion. I am able to do this as if I receive a profit more than I expected I can see that my targets have been met and exceeded. Also, if I target my business to break even in June and it does so in October than I can see that I need to improve my business strategies in order for my business to be successful.I will use the calculation shown above to figure out how long it will take in order for my business to make a net profit. By using the research I have conducted which tells me how many T-shirts I are demanded a week, for example 40 T-shirts in demand for every week on an annual basis, I will sell 2080 T-shirts a year. Break even comes into this as I can see how many T-shirts I have to sell in order to break even and how lon g it will take me to sell that many T-shirts. If I am able to break even within the first year I can then calculate my net profit after breaking even, with this information I can then start expanding on ideas for my business and strive to achieve new aims and objectives.By using my market research to calculate how long it will take in order for my business to break even, I can then adjust it accordingly. For example, if I end up selling more than I planned I will be sure break-even quicker. However, if I end up selling less than I intended than I will have to recalculate my break even time.My break even figure may even change, for example, if a new scenario occurs where perhaps a new competitor enters the market, I may have to lower prices. This means that I will have to sell more T-shirts in order to break even. To keep revenue the same if I decrease the price I will have to either promote my business more, or look around for a cheaper supplier!My break even figure can also help me when I have the money to pay out in order for my business to remain liquid.