PROJECT ACCOUNTING I ◆ Gross Profit (aka Profit Before Taxes or PBt) Pbt=Sales revenue-Operating Expenses ◆ Operating Expenses Raw materials UTilities → Labor E Maintenance → Overhead 10/1899 Engineering economics ll10/18/99 Engineering Economics II 4 PROJECT ACCOUNTING I t Gross Profit (aka Profit Before Taxes or PBT) PBT = Sales Revenue - Operating Expenses t Operating Expenses ðRaw materials ðUtilities ðLabor ðMaintenance ðOverhead