Outline the methodology and data collection requirements for a business report, including fixed costs, variable costs, total cost, revenue, and profit calculations.

Here are the requirements for the Methodology and Data Collection and Presentation sections: 2. Methodology* Explain how data was collected (e.g., interview, observation). Indicate the period of data collection (e.g., daily or weekly). 3. Data Collection and Presentation* Students must present the following: a) Fixed Costs (TFC)* Costs that do not change with output (e.g., rent, equipment). b) Variable Costs (TVC)* Costs that change with production (e.g., raw materials, fuel). c) Total Cost (TC)* TC = TFC + TVC d) Revenue (TR)* Selling\ price × quantity\ sold e) Profit or Loss* Profit = TR - TC Data should be presented in tables and/or charts where appropriate. 3 done, 2 left today. You're making progress.