Paper 1 Formulas Flashcards
1
Q
Sales revenue (income, sales income, revenue)
A
Selling price per item x number sold.
2
Q
Total variable costs?
A
Variable cost per item x number sold.
3
Q
Total costs?
A
Fixed costs + variable costs.
4
Q
Profit?
A
Sales revenue - total costs.
5
Q
Cost per unit?
A
Total cost/number sold.
