Remember it costs $14 to make the cakes and you are selling them for $50 each. If you only spend the 200 hours making the cakes, what was your maximum total profit
To find the maximum total profit, we need to consider both the cost of making the cakes and the revenue from selling them.
Cost of making the cakes:
It costs $14 to make one cake.
If you spend 200 hours making the cakes, and each cake takes the same amount of time to make, we can assume you can make 200/1 = 200 cakes.
The cost of making 200 cakes is 200 * $14 = $2800.
Revenue from selling the cakes:
You are selling each cake for $50.
If you sell 200 cakes, the revenue from selling them is 200 * $50 = $10,000.
Total profit:
Total profit is calculated by subtracting the cost of making the cakes from the revenue from selling them.
Total profit = Revenue - Cost = $10,000 - $2800 = $7200.
Therefore, your maximum total profit is $7200.
To calculate the maximum total profit, we need to determine the number of cakes that can be made within the given 200 hours.
Let's assume it takes x hours to make one cake. Therefore, the equation would be:
x * (number of cakes) = 200 hours
Now, let's calculate the number of cakes that can be made:
x * (number of cakes) = 200 hours
number of cakes = 200 hours / x
Considering that it costs $14 to make each cake, and you sell them for $50 each, the profit per cake would be:
Profit per cake = Selling price - Cost to make = $50 - $14 = $36
To find the maximum total profit, we multiply the profit per cake by the number of cakes:
Maximum total profit = Profit per cake * number of cakes
Maximum total profit = $36 * (200 hours / x)
However, without knowing the specific time it takes to make one cake (x), it is not possible to determine the maximum total profit accurately. Please provide the time required to make one cake, and I will be able to give you the exact figure.
To calculate the maximum total profit, we need to consider both the cost and revenue associated with making and selling the cakes.
First, let's determine the total cost of making the cakes. We know that it costs $14 to make each cake, so we multiply this cost by the number of cakes produced. To find the number of cakes produced, we divide the total hours spent making the cakes (200 hours) by the time it takes to make each cake. Let's assume it takes 1 hour to make one cake.
Number of cakes produced = Total hours spent making cakes / Time to make each cake
Number of cakes produced = 200 hours / 1 hour = 200 cakes
Total cost to make the cakes = Cost per cake * Number of cakes
Total cost to make the cakes = $14 * 200 cakes = $2800
Next, let's calculate the total revenue earned from selling the cakes. Since each cake is sold for $50, we multiply the selling price by the number of cakes sold.
Total revenue = Selling price per cake * Number of cakes
Total revenue = $50 * 200 cakes = $10,000
Finally, we can calculate the maximum total profit by subtracting the total cost from the total revenue.
Maximum total profit = Total revenue - Total cost
Maximum total profit = $10,000 - $2800 = $7,200
Therefore, the maximum total profit, considering the given costs and selling price, would be $7,200.