Question

Henry spent $550 to make 800 ceramic bowls to sell. What is the $550 he spent called? cost loss revenue profit

COST
LOSS
REVENUE
PROFIT

Answer 1

Answer: Cost.

Step-by-step explanation:

He spent that money on materials to create a product. That is a cost. If he sold those bowls and $550 is what he made, it is revenue. If he sold the bowls and paid his costs and the new total came out to $550, that is profit. If he priced his bowls too high and spent money on materials that then made him no money, that is a loss of $550 (the total of the materials gone to waste).