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What is revenue?
The total money you earn from selling something.
What is a cost?
The money you spend to make or buy something.
What is profit?
The money you have left after subtracting your costs from your revenue.
What is loss?
When your costs are higher than your revenue.
What is break-even?
When your revenue is equal to your costs and your profit is zero.
You sell a bracelet for $10. What is your revenue?
Answer: $10.
You spend $3 making slime and sell it for $5. What is your profit?
Answer: $2.
You buy a sticker pack for $4 and sell it for $4. Profit, loss, or break even?
Answer: Break even.
You buy beads for $2 and sell a bracelet for $6. What is your profit?
Answer: $4.
You make lemonade for $1 and sell it for $3. What is your revenue?
Answer: $3.
You find a table in the trash and spend $8 on materials. You sell it for $10. What is your profit?
Answer: $2.
You buy markers for $5 and poster board for $3, then sell artwork for $12. Profit?
Answer: $4.
Your total cost is $7 and you want to break even. What should the selling price be?
Answer: $7.
Liam makes a toy car for $4 and sells it for $3. Profit, loss, or break even?
Answer: Loss of $1.
Sarah sells two drawings for $5 each. Her total cost was $6. What is her profit?
Answer: Revenue $10 – cost $6 = $4 profit.
Bert buys a table for $10 and new knobs for $40. How much must he sell it for to make $100 in profit?
Answer: $150
You spend $12 on wood and $8 on paint, and you want a $20 profit. Price?
Answer: $40.
A student buys a chair for $15, spends $10 fixing it, and sells it for $30. Profit?
Answer: $5.
You want a $50 profit on a project. Your costs are $22 in materials and $8 in tools. Price?
Answer: $80.
To break even on costs of $18, $6, and $4, what’s the selling price?
Answer: $28.
Timmy buys a chair for $10. He buys a pack of 10 sandpaper sheets for $10 and uses 2 sheets. He also uses half a can of paint that costs $20. What is the total cost of his project?
Sandpaper cost per sheet: $10 ÷ 10 = $1
Timmy uses 2 sheets → $2
Half a can of paint = $20 ÷ 2 = $10
Total cost = $10 (chair) + $2 (sandpaper) + $10 (paint) = $22
Linda finds a desk in the garbage for free. She buys a can of paint for $30 but uses only one third of it. She sells the finished desk for $100. What is her profit?
Cost of paint used: $30 ÷ 3 = $10
Revenue: $100
Profit = $100 – $10 = $90
Carlos buys a bookshelf for $12. He uses one third of a can of $15 wood filler. He also buys new knobs for $9. What is Carlos’s total cost?
Wood filler share: $15 ÷ 3 = $5
Total cost = $12 (bookshelf) + $5 (filler) + $9 (knobs) = $26
Ava buys a small table for $8. She and four classmates buy a $25 multi-pack of paint colors and split it evenly. Ava uses her share to repaint the whole table. She sells it for $40. What is her profit?
Paint share: $25 ÷ 5 = $5
Total cost = $8 + $5 = $13
Profit = $40 – $13 = $27
Noah buys a nightstand for $14. He buys a 6-pack of brushes for $12 and uses 2 of them. What is the total cost of his project?
Brush cost per brush: $12 ÷ 6 = $2
Brushes used: 2 × $2 = $4
Total cost = $14 + $4 = $18