The excess of the whole sale price over the total factory operating expenses
net profit
What is made up of the raw materials, the machinery, and the equipment
total factory cost
The difference between the total factory operating expenses and the total factory cost
net income
The excess of the selling price over the cost
gross profit
A summary of the records of profit and loss for a business is usually prepared annually
operating statement
selling price - cost
gross profit
selling price - (cost + overhead)
net profit
(cost + overhead) - selling price
loss
A reduction in the list price
discount
Excess of the selling price over the cost
profit
Excess of the selling price over the cost plus overhead
net profit
Rent, salaries, advertising
overhead
Excess of gross profit over returned sales plus allowances made for damaged merchandise
net sales
Gross profit compared to cost of goods sold (given as a percent)
markup on cost
The total factory cost plus a net profit for the manufacturer
wholesale price
