PAPER 2 FORMULAE - income statement family Flashcards
1
Q
Total revenue/turnover
A
Selling price x quantity sold
2
Q
Cost of Sales
A
Total variable costs of quantity sold
3
Q
Gross Profit
A
Total Revenue – Cost of Sales
4
Q
Gross Profit Margin %
A
Gross Profit ÷ Revenue x 100
5
Q
Operating/net Profit
A
Gross Profit – Expenses
