Income and costs
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Last updated 8:30 PM on 4/25/25
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5 Terms
1
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What is the difference between profit and revenue?
↳ Profit- money made after costs
↳ Revenue- money made from sales
2
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How do you calculate revenue?
↳ Revenue= sales x price
3
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What is average unit cost?
↳ How much each product costs to make
4
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How do you work out average unit cost?
↳ Average unit cost= total cost ÷ output
5
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How do you work out profit?
↳ Profit= revenue - costs
Note 
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