Enter Mia’s total profit/loss for the month of May 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 May we can see that Mia has Revenue, Fixed, Expenses and Variable Expenses like so:

Revenue

Dog Food$3,650
Cat Food$2,850
Pet Treats$1,650
Pet Suppies$1,800
Total$9,950

Fixed Expenses

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

Variable Expenses

Card Purchase$300
 
  
  
Total$300

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!

Cite/Link to This Article

  • Stewart, Suzy. "Enter Mia’s total profit/loss for the month of May account in the box below". Start a Business Hub. Accessed on March 7, 2021. https://startabusinesshub.com/enter-mias-total-profit-loss-for-the-month-of-may-account-in-the-box-below/.

  • Stewart, Suzy. "Enter Mia’s total profit/loss for the month of May account in the box below". Start a Business Hub, https://startabusinesshub.com/enter-mias-total-profit-loss-for-the-month-of-may-account-in-the-box-below/. Accessed 7 March, 2021.

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