Enter Mia’s total profit/loss for the month of January account in the box below

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 January we can see that Mia has Revenue, Fixed, Expenses and Variable Expenses like so:

Revenue

Dog Food$3,500
Cat Food$2,100
Pet Treats$1,200
Pet Suppies$2,750
Total$9,550

Fixed Expenses

Rent$2,000
Salaries$2,000
Utilities$1,000
Product Stock$4,000
Total$9,000

Variable Expenses

Newspaper Ad$200
 
  
  
Total$200

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 + $200 = $9,200

So now we know that total expenses is $9,200 and total revenue is $9,550.

All you have to do is deduct total expenses from total revenue:

Profit/Loss = $9,550 - $9,200 = $350

Mia's total profit/loss for the month of January account is $350.

Hope that helps you!

Cite/Link to This Article

  • Stewart, Suzy. "Enter Mia’s total profit/loss for the month of January account in the box below". Start a Business Hub. Accessed on March 8, 2021. https://startabusinesshub.com/enter-mias-total-profit-loss-for-the-month-of-january-account-in-the-box-below/.

  • Stewart, Suzy. "Enter Mia’s total profit/loss for the month of January account in the box below". Start a Business Hub, https://startabusinesshub.com/enter-mias-total-profit-loss-for-the-month-of-january-account-in-the-box-below/. Accessed 8 March, 2021.

  • Stewart, Suzy. Enter Mia’s total profit/loss for the month of January account in the box below. Start a Business Hub. Retrieved from https://startabusinesshub.com/enter-mias-total-profit-loss-for-the-month-of-january-account-in-the-box-below/.