profit calculations Flashcards
(7 cards)
1
Q
revenue meaning
A
total made from sales
2
Q
revenue formular
A
selling price per unit x number of units sold
3
Q
fixed costs
A
- costs that dont vary with output
.e g, rent
4
Q
variable costs
A
costs that vary with output
e.g raw materials
5
Q
profit formula
A
revenue - costs
6
Q
total costs formula
A
fixed costs + variable costs
7
Q
A
