Basics Flashcards
1
Q
Total Revenue =
A
Selling Price x Quantity
2
Q
Total Costs =
A
Fixed Costs + Total Variable Costs
3
Q
Profit Or Loss =
A
Total Revenue - total costs
4
Q
Variable Cost Per unit from TVC =
A
Variable costs/ Quantity
5
Q
Profit for year =
A
Revenue - cost of sales - expenses
