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What is the quantity factor and the price factor for sales

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Question - The quantity factor tells us how much additional revenue changed for the additional quantity sold at the planned price. The price factor tells us how much revenue changed on actual total sales due to the price being different than planned.

Edna's Chocolates had planned to sell chocolate-covered strawberries for $3.00 each. Due to various factors, the actual price was $2.75. Edna's was able to sell 1,000 more strawberries than the anticipated 4,000. What is (1) the quantity factor and (2) the price factor for sales?

Reference no: EM133126530

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