Are you stuck on this EverFi answer? Let’s break this down for you to give you the correct answer AND show you how to work it out:
For the month of May we can see that Mia has Revenue, Fixed, Expenses and Variable Expenses like so:
Okay, so the question here is asking us to “Calculate whether Mia had a profit or loss”.
The first thing you need to do is add up the expenses.
Total Expenses = Fixed Expenses + Variable Expenses
Total Expenses = $9,000 + $300 = $9,300
So now we know that total expenses is $9,300 and total revenue is $9,950.
All you have to do is deduct total expenses from total revenue:
Profit/Loss = $9,950 - $9,300 = $650
Mia’s total profit/loss for the month of May account is $650.
Hope that helps you!