CRUZ C. answered • 03/27/19
Experienced Math Dept Chair, 7+ Years of Teaching Experience
You want to start a necklace making business. You spend $0.68 on string for each necklace and 0.25 on beads for each necklace. You sell your necklaces for $2.00 each. If you sell 30 necklaces, how much will the profit be? How much will it equal?
Selling 30 necklaces at $2.00 each will produce $60.00 in money received.
Profit = money received from sales – money paid to purchase supplies used to produce the good that is being sold.
For each of the 30 necklaces, the string costs $0.68 and the beads cost $0.25.
30 * .68 = 20.40 (total cost of string)
30* .25 = 7.50 (total cost of beads)
Total monies paid to purchase supplies for all 30 necklaces is 20.40+7.50 = 27.90.
Profit
Profit = money received from sales – money paid to purchase supplies used to produce the good that is being sold.
Profit = $60.00 – 27.90
Profit = $32.10
