I am a little unsure of how to answer this question:
Write an inequality to represent the limit you may not exceed when spending to make your product.
Here's the background information I have.
You are going to decide on a summer business to start. Figure out what you will do, how much it will cost you, and how much you will charge.
Total amount of money you will be investing:
$100
What item are you making and selling and also why?
The item I'm making is fresh squeezed lemonade because it's a profitable business in the summer and I like lemonade.
Describe the setup of your business:
Cost to make each item: $0.20 per cup and $2.33 per gallon
Selling price of each item: $0.50 per cup
Please help me as soon as you can. Thank you!
money <= 100
cost for x gallons (16 cups/gal)
= .20*16x + 2.33x
= 5.53x
sales: .50*16x = 8.00x
profit: 2.47x
Okay using Cassidy s example how would I solve the following questions. I just need to understand the concept using her problem.
Your parents heard about the success of your business and they want to help you out. Suppose they want to give you an additional $300 to put toward your business. However, there’s a catch. If you make more than $600 total, you have to give them 10% of your earnings above $600. For example, if you have earned $650, then you owe 10% of $50, or $5, to your parents.
a. Now that you have an additional $300, revise your inequality from part A of Task 2 to reflect your new spending limit. Solve this inequality and graph the solution on a number line. Explain what your solution means in terms of the situation.
b. If you still sell your item for the same price, what is the most money you can hope to earn from your business now?
c. Will you have to pay your parents? If so, determine how much you will owe them.
d. Think about how much time it will take you to create your product. You have 200 hours this summer to devote to creating your product. Write an inequality that represents your time constraint.
e. Solve your inequality from part D and graph your solution on a number line. Explain what your solution means in terms of the situation.
f. With the costs taken into account, what was your total profit? Did you make or lose money? Now that you have these values, would you adjust your business plan from Task 1? If so, how?
To answer the question, you need to consider the total amount of money you have available for spending on making your product. In this case, you have $100 as your total investment.
The cost to make each item includes both the cost per cup and the cost per gallon. Given that the cost to make each cup is $0.20 and the cost to make each gallon is $2.33, you need to think about how many cups can be made from each gallon.
Since there are 128 fluid ounces in a gallon and one cup is typically 8 fluid ounces, you can make 16 cups from each gallon. Therefore, the cost per cup can be calculated by dividing the cost per gallon by the number of cups made from each gallon:
Cost per cup = Cost per gallon / Cups made from each gallon
Cost per cup = $2.33 / 16
Cost per cup ≈ $0.15
So, the cost to make each cup is approximately $0.15.
Now, let's consider the selling price of each cup, which is $0.50.
To find the limit you may not exceed when spending to make your product, subtract the cost per cup from the selling price per cup.
Selling price per cup - Cost per cup ≤ Limit
$0.50 - $0.15 ≤ Limit
$0.35 ≤ Limit
Therefore, the inequality to represent the limit you may not exceed when spending to make your product is:
0.35 ≤ Limit
In other words, you should not exceed spending $0.35 to make each cup of lemonade if you want to maintain profitability.