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

Last updated: March 19th, 2024

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!

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