Calculations Flashcards
1
Q
revenue
A
income earned by a business from sales
2
Q
revenue calculation
A
number of sales x price per unit
3
Q
costs
A
expenses a business pays
4
Q
total costs calculation
A
fixed costs + variable costs
5
Q
variable costs calculation
A
unit x amount
6
Q
variable
A
changes directly depending on output
7
Q
net income calculation
A
income - costs
8
Q
gross profit calculation
A
total revenue / sales - costs
9
Q
net profit calculation
A
gross profit - costs
10
Q
profit
A
amount of money a business makes when taking into account costs
11
Q
profit calculation
A
total revenue - total costs
12
Q
average price per unit
A
gives business an idea on what prices should change
13
Q
average price per unit calculation
A
total costs / output
14
Q
interest calculation
A
rate x loan size
15
Q
break even
A
amount of sales when revenue is equal to total costs
