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.
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.
b) x ≤ 714r
c) T = 50x
Using your answer from part b and your equation from part c, what is the most money you can hope to earn from your business?
$357,000,000
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?
To calculate the total profit, we need to subtract the investment and cost from the total earnings.
Total Earnings = T = $357,000,000 (from part c)
Investment = $10,000
Cost per cake = $14
Total Cakes made = x = T/50
Total Cost = TC = x * Cost per cake = (T/50) * $14 = $14T/50
Total Profit (P) = Total Earnings - Total Cost - Investment
P = T - TC - Investment
P = $357,000,000 - ($14T/50) - $10,000
Now, let's substitute the value of T in terms of x from part c into the equation:
P = $357,000,000 - ($14(50x))/50 - $10,000
P = $357,000,000 - $14x - $10,000
P = $357,000,000 - $14x - $10,000
P = $356,990,000 - $14x
Therefore, the total profit without accounting for other costs would be $356,990,000 - $14x.
To calculate the total profit, we need to subtract the total cost from the total revenue.
Given:
Total investment: $10,000
Cost to make each cake: $14
Revenue per cake: $50
Let's calculate the total revenue:
Total revenue = Revenue per cake × Number of cakes sold
We can find the number of cakes sold by dividing the total investment by the cost to make each cake:
Number of cakes sold = Total investment / Cost to make each cake
Number of cakes sold = $10,000 / $14
Now, let's calculate the total revenue:
Total revenue = $50 × (Number of cakes sold)
Total revenue = $50 × ($10,000 / $14)
To find the total profit, we subtract the total cost (investment) from the total revenue:
Total profit = Total revenue - Total cost
Total profit = ($50 × ($10,000 / $14)) - $10,000
Calculating the total profit:
Total profit = ($50 × 714.29) - $10,000
Total profit = $35,714.29 - $10,000
Therefore, the total profit is $25,714.29.
To find the most money you can hope to earn from your business, we need to use the equation you provided in part c: T = 50x, where T represents the total money you can earn and x represents the number of cakes sold.
Since the equation T = 50x represents the total money earned from selling cakes, we need to substitute x with the maximum number of cakes you can sell.
To find the maximum number of cakes you can sell, we will consider the equation from part b: x ≤ 714r, where x represents the number of cakes sold and r represents the amount of money you invested.
Given that you invested $10,000, we can substitute r with 10,000:
x ≤ 714(10,000)
Simplifying this equation, we get:
x ≤ 7,140,000
So, the maximum number of cakes you can sell is 7,140,000.
Now we can substitute this value of x into the equation T = 50x to find the most money you can hope to earn:
T = 50(7,140,000)
T = 357,000,000
Therefore, the most money you can hope to earn from your business is $357,000,000.
Now, to calculate the total profit, we need to subtract the cost of making the cakes from the total money earned:
Total profit = Total money earned - Total cost
The total cost is calculated by multiplying the cost per cake ($14) by the number of cakes sold (x).
Total cost = 14x
Total cost = 14(7,140,000)
Total cost = 99,960,000
Total profit = 357,000,000 - 99,960,000
Total profit = $257,040,000
Therefore, your total profit, taking into account the investment and the cost of making the cakes, is $257,040,000.