The sides of a square-shaped room are 2 meters long. Joey wants to buy carpet to cover the floor of the room. If the carpet costs $94.78 per square meter, how much will it cost to buy enough carpet for the room?
The area of the room is 2 meters x 2 meters = <<2*2=4>>4 square meters.
To cover the floor, Joey needs to buy 4 square meters of carpet.
The cost of the carpet per square meter is $94.78.
Therefore, the total cost of the carpet will be 4 square meters x $94.78/square meter = $379.12. Answer: \boxed{379.12}.