Unit 4 Portfolio Part 1
You want to start a bakery business to earn money. The total amount of money you will invest is $10,000. You will be selling cakes. It will cost you $14 to make each cake.
e)
Don’t forget that at the beginning of the process you had to spend some of your own money to get started. With the costs taken into account, what was your total profit?
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1 point
To calculate the total profit, we need to subtract the total cost from the total revenue.
Total Cost:
$14 (cost per cake) x Number of cakes made
Total Revenue:
$0 (as it is not given in the question)
Since we don't have the information about the number of cakes made and the total revenue, we cannot calculate the total profit. Therefore, it is not possible to determine the total profit based on the given information.
To calculate your total profit, you need to deduct the total cost of making the cakes from the total amount you invested.
The total cost of making the cakes can be calculated by multiplying the cost per cake with the number of cakes you can make from the investment amount.
Let's assume you can make x cakes from the $10,000 investment:
Cost per cake = $14
Number of cakes made = x
Total cost of making the cakes = Cost per cake * Number of cakes made
= $14 * x
Now, subtracting the total cost of making the cakes from the total investment amount will give you the total profit:
Total profit = Total investment - Total cost of making the cakes
= $10,000 - ($14 * x)
Please provide the value of x (the number of cakes you can make from the investment) to calculate the total profit.
To calculate the total profit, we need to consider the revenue generated from selling the cakes and deduct the cost of making the cakes, as well as the initial investment.
First, let's calculate the cost of making each cake. You mentioned that it would cost $14 to make each cake.
Next, we can calculate the revenue generated from selling the cakes. Since the problem doesn't provide information about the selling price of each cake or the number of cakes sold, we will need these details to proceed. Once you have this information, multiply the selling price per cake by the number of cakes sold to get the total revenue.
Finally, we deduct the cost of making the cakes and the initial investment from the revenue to find the total profit.
Total Profit = Total Revenue - (Cost per Cake x Number of Cakes) - Initial Investment
Please provide the selling price per cake and the number of cakes sold so that we can further calculate the total profit.