sales revenue and costs

• How is sales revenue calculated?

  Price X quantity sold
• What is a variable cost?

  Costs that change in a given time period
• What are fixed costs?

  Costs that remain the same in a given time period
• What is profit?

  The difference between total cost and total revenue
• What is the formula for sales volume?

  Sales revenue / selling price
• Give an example of a fixed cost?

  Rent
• Give an example of a variable cost?

  Wages
• What is the total variable cost formula?

  Average variable cost X quantity sold
• What is the formula for total costs?

  Variable cost + fixed cost
• How do you calculate percentage change?

  Change / original X 100
• What is the difference between sales revenue and sales volume?

  Sales revenue is the money into your business through sales . Sales volume is the quantity of products sold
• Why is it important for a business to classify costs?

  So that the owners know where the money is going to make profit