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?
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Does the investment you make and the time constraint allow you to profit from this venture?
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Yes, I can make more than $10,000
No, I make less than $10,000
To find the maximum total profit, we need to calculate the profit per cake and then multiply it by the total number of cakes we can make within the given time constraint.
Profit per cake = Selling price per cake - Cost per cake
Profit per cake = $50 - $14 = $36
Total number of cakes that can be made = 200 hours / time to make one cake
Total number of cakes = 200 hours / 3 hours per cake = 66.67 cakes (rounded down to the nearest whole number)
Maximum total profit = Profit per cake * Total number of cakes
Maximum total profit = $36 * 66 = $2,376
So, the maximum total profit is $2,376.
Since the profit is less than $10,000, the investment and time constraint do not allow us to profit from this venture.
To calculate the maximum total profit, we need to determine how many cakes can be made in 200 hours and then calculate the profit per cake.
Since it costs $14 to make each cake and you sell them for $50 each, the profit per cake can be calculated by subtracting the cost from the selling price: $50 - $14 = $36.
Next, we need to determine how many cakes can be made in 200 hours. Let's assume it takes you an average of 1 hour to make one cake. So, in 200 hours, you can make 200 cakes.
Now, to find the maximum total profit, multiply the profit per cake ($36) by the number of cakes made (200): $36 x 200 = $7,200.
Therefore, the maximum total profit you can make is $7,200.
Since $7,200 is less than $10,000, the investment and time constraint do not allow you to profit from this venture. Hence, the answer is: No, I make less than $10,000.
To calculate the maximum total profit, we need to determine how many cakes can be made within the 200 hours and then multiply that by the profit per cake.
First, let's calculate the number of cakes that can be made in 200 hours. Assuming it takes the same amount of time to make each cake, we divide the total number of hours by the time it takes to make one cake:
200 hours ÷ time per cake = number of cakes made
Since we don't have information about how long it takes to make a cake, we are unable to calculate the exact number of cakes made in 200 hours.
Next, we calculate the profit per cake by subtracting the cost per cake from the selling price per cake:
Profit per cake = selling price per cake - cost per cake
Profit per cake = $50 - $14 = $36
Now, we can calculate the maximum total profit by multiplying the profit per cake by the number of cakes made:
Maximum total profit = profit per cake × number of cakes made
As we don't have the number of cakes made, we cannot calculate the maximum total profit and determine if it exceeds $10,000.
Regarding the investment and time constraint, we cannot determine whether this venture allows for a profit or not without knowing the number of cakes made and calculating the total profit.