what is the most money you can hope to earn from your business?
500,000 dollars
Phones cases
It will cost $0.60 to make each phone case. And the price for each phone case is $25
To calculate the maximum potential earnings from the business, we need to consider the cost of making each phone case and the price at which it is sold.
Let's assume there are no additional expenses such as overhead costs or taxes.
The profit per phone case can be calculated by subtracting the cost to make each case from the selling price:
Profit per phone case = Selling price - Cost to make
Profit per phone case = $25 - $0.60 = $24.40
Now, let's determine the maximum number of phone cases that can be produced based on the given information.
Maximum number of phone cases = Total investment / Cost to make
Since no investment amount is provided, we cannot determine the maximum number of phone cases. But you can calculate it by dividing the investment amount by the cost to make one phone case.
Next, we estimate the maximum potential earnings by multiplying the maximum number of phone cases by the profit per phone case:
Maximum potential earnings = Maximum number of phone cases * Profit per phone case
Without the total investment amount, we cannot provide an exact figure for the maximum potential earnings. Please provide the investment amount to get a more accurate estimation.
To calculate the maximum money you can hope to earn from your business, you need to consider the cost of manufacturing and the selling price of each phone case.
Step 1: Calculate the profit per phone case.
Profit per phone case = Selling price - Manufacturing cost
Profit per phone case = $25 - $0.60 = $24.40
Step 2: Determine the maximum number of phone cases you can manufacture.
Let's assume you have limited resources and can only manufacture a certain number of phone cases.
So, let's say you can manufacture X phone cases.
Step 3: Calculate the maximum profit you can earn.
Maximum profit = Profit per phone case X Number of phone cases
Maximum profit = $24.40 X X = $24.40X
Now, without more information about the limitations or capacity of your business, we cannot determine the exact number of phone cases you can manufacture or the maximum profit you can earn. However, you can estimate the maximum profit you can hope to earn from your business by substituting the value of X with a reasonable production quantity.
For example, if you can manufacture 10,000 phone cases:
Maximum profit = $24.40 X 10,000 = $244,000
Please note that this is just an estimate based on the given information, and actual profits may vary depending on various factors such as demand, expenses, and competition in the market.
To determine the maximum amount of money you can hope to earn from your business, you can follow the steps below:
1. Calculate the profit per phone case:
Profit per case = Price per case - Cost per case
Profit per case = $25 - $0.60
Profit per case = $24.40
2. Calculate the number of phone cases you need to sell to earn $500,000:
Number of cases = Target earnings / Profit per case
Number of cases = $500,000 / $24.40
Therefore, you would need to sell approximately 20,492 phone cases to earn $500,000.
Please note that this calculation assumes that all costs are constant and that there are no other associated expenses or factors impacting profit.