Fixed & Variable Expenses / calculating profit

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What is the correct equation for finding profit?

Back

Profit = Income - Expenses

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What is income?

Back

Money coming IN to your pockets.

Front

Leonardo has 24 Pokémon cards he bought for $10.00. He decided to sell each card for $2 each. What was Leonardo's profit?

Back

Leonard's profit was $38.

Tags

CCSS.3.OA.D.8

Front

Flor makes hair bows to sell. She sells 10 hair bows for $3 each. Flor spends $10.75 on ribbon for the hair bows. What is Flor's profit?

Back

Flor's profit is $19.25.

Tags

CCSS.7.EE.B.3

Front

Joana bought 3 new shirts for $5 each. She sells each shirt for $15. What is Joana’s profit?

Back

Joana's profit is $30.

Tags

CCSS.7.NS.A.3

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What are fixed expenses?

Back

Fixed expenses are costs that do not change, like rent or subscriptions.

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What are variable expenses?

Back

Variable expenses are costs that can change, like groceries or entertainment.

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How do you calculate total income?

Back

Total income is the sum of all money earned from sales or services.

Tags

CCSS.7.EE.B.3

Front

If you sell an item for $20 and it costs you $15, what is your profit?

Back

Your profit is $5.

Tags

CCSS.7.EE.B.3

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What is the importance of tracking expenses?

Back

Tracking expenses helps you understand where your money goes and manage your budget.