Total Revenue and Total Cost
Total Revenue and Total Cost
Embedded Files
New in Stock - Preliminary Exam Business Report Samples (Band 6 Exemplar)
Total Revenue:
Total Revenue:
Total revenue is the overall amount of sales ($) received from the sale of a good or service in a certain duration of time.
It is calculated:
Total Revenue (TR) = Selling price per unit (P) X Quantity sold (Q)
Total Costs:
Total Costs:
Total costs must be categorised into variable costs and fixed costs.
Variable costs fluctuate depending upon number of goods produced (purchases, electricity, wages).
Fixed costs do not vary (rent, accounting fees).
It is calculated:
Total Costs (TC) = Fixed Costs (FC) + Variable Costs (VC)
Page updated
Report abuse