ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It was in the black
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It was in the red
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It was neutral
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None of the above
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Detailed explanation-1: -Total Expenses = Net Revenue-Net Income.
Detailed explanation-2: -Total costs = fixed costs + variable costs Question Calculate: The total fixed costs incurred by the sandwich shop. The total variable costs incurred by the sandwich shop.
Detailed explanation-3: -Key Takeaways In accounting, the breakeven point is calculated by dividing the fixed costs of production by the price per unit minus the variable costs of production. The breakeven point is the level of production at which the costs of production equal the revenues for a product.
Detailed explanation-4: -Revenue – Cost of Goods Sold – Expenses = Net Income. Gross Income – Expenses = Net Income. Total Revenues – Total Expenses = Net Income. Gross income = $60, 000-$20, 000 = $40, 000. Expenses = $6, 000 + $2, 000 + $10, 000 + $1, 000 + $1, 000 = $20, 000. Net income = $40, 000-$20, 000 = $20, 000. More items •08-Oct-2021