finance Flashcards
1
Q
revenue
A
quantity sold x price
2
Q
total cost
A
direct costs + indirect costs
variable costs + fixed costs
3
Q
average cost
A
total / output
4
Q
break-even output
A
fixed costs / contribution per unit
fixed costs / selling price - variable cost
5
Q
gross profit
A
sales - costs of sales
6
Q
net profit
A
gross profit - expenses
