Formulas Flashcards
1
Q
What is the formula for total costs
A
Total costs = Fixed Costs + Variable costs
2
Q
What is the formula for sales revenue
A
Sales revenue = Price per unit x Quantity sold
Sales revenue = average spending per customer x number of customers
3
Q
What is the formula for variable costs
A
Variable costs = Variable cost per Unit x Quantity sold
4
Q
What is the formula for profit
A
Total revenue - Total costs
