|Date:||June 11, 1999|
|Length:||19 / 5676|
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This is the gross profit or gross margin.
But you still have to pay your fixed costs to end up with your net profit.
If your fixed costs for expense items such as rent, leases, insurances etc are $3,000 and you sell 100 widgets and make a gross margin of $40 on each one, then your total gross margin is $4,000 and after deducing your fixed costs of $3,000, you will end up with a "net profit" of $1,000...
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The "net profit" of $1,000 is "what's left over" after deducting the variable costs of $6,000 and the fixed costs of $3,000 from your total sales of $10,000.
On the other hand, if your fixed costs are more than $4,000, then you'll incur a loss.
We can restate these factors in the traditional Profit and Loss Statement format:
SALES (Quantity X Price) $10,000
100 widgets at $100 sale price each
COST OF SALES (Variable Costs) 6,000
100 widgets at $60 cost each
Gross Profit 4,000
100 widgets at $40 gross margin each
FIXED COSTS (Rent, leases, wages, insurances, etc...
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Total price: $10.00
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