What is the calculation for average cost?

Question

this is in reference to budgeting

Also is this correct?

What is the calcuation for average spend

Numbers of customers divided by amount of money they spent???

Answer 1

Average anything is add up all the anythings and divide by the number of them.

average cost: add up costs and divide by number of items.

average spend: add up spent dollars of each and divide by number of items.