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Where p price of the product.
Total revenue formula accounting. Using this same formula the craftsman can also determine how many more boots he would need to sell to make the total revenue amount before the discount by dividing his previous total revenue by his discounted price. We know the company s total revenue was 1 million so we can subtract net income from that to calculate the company s total expenses for this period. For knowing properly about the revenue formula firstly you have to know the revenue. Revenue is the money a business earns before paying expenses.
5 000 total revenue x quantity sold x 80 price quantity sold 5 000 80 quantity sold 62 5 boots. A business typically classifies its revenue as either operating revenue or. This money is actually coming from the specific period the discounts of any returned products are included in revenue. The formula is quantity x price revenue.
1 million minus 450 000 gives us total. It is the total income of a company and is calculated by multiplying the quantity of goods sold. Tr p x q tr q. These trends will be useful for the future reference purpose and know the total profit of the business.
Revenue formula revenue is mainly used in economics and business to measure the success and progress of the trends in the total revenue. The formula for calculating total revenue can be written as. And q quantity sold per period. Regarding the total revenue function only in a perfectly competitive market p is obtained to be a constant independent of the firm s quantity sold q.
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