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.
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 determine the total profit, we need to calculate the expenses and subtract them from the total investment.
Let's assume you can sell each cake for $30 (this price is not mentioned in the question, but we need it to calculate the profit).
First, let's calculate the total cost of making each cake:
$14 per cake.
Next, let's calculate the number of cakes you can make with the total investment:
Number of cakes = total investment / cost per cake
Number of cakes = $10,000 / $14 = 714.29
Since we can't have a fraction of a cake, we'll round down to the nearest whole number:
Number of cakes = 714
Now, let's calculate the total revenue:
Total revenue = number of cakes * selling price per cake
Total revenue = 714 * $30 = $21,420
Now, let's calculate the total expenses:
Total expenses = number of cakes * cost per cake
Total expenses = 714 * $14 = $9,996
Finally, let's calculate the total profit:
Total profit = total revenue - total expenses
Total profit = $21,420 - $9,996 = $11,424
Therefore, the total profit is $11,424.
To determine your total profit, you need to calculate the number of cakes you can make with your initial investment and the total cost of making those cakes.
Let's assume the selling price for each cake is $20.
First, divide the total investment amount ($10,000) by the cost per cake ($14) to determine the number of cakes you can make:
Number of cakes = Total investment amount / Cost per cake
Number of cakes = $10,000 / $14
Number of cakes = 714.29 (rounded to 714 cakes)
Next, calculate the total cost of making these cakes:
Total cost = Number of cakes × Cost per cake
Total cost = 714 cakes × $14
Total cost = $9,996
Now, calculate the total revenue from selling all the cakes:
Total revenue = Number of cakes × Selling price per cake
Total revenue = 714 cakes × $20
Total revenue = $14,280
To calculate the profit, subtract the total cost from the total revenue:
Profit = Total revenue - Total cost
Profit = $14,280 - $9,996
Profit = $4,284
Therefore, your total profit, taking into account the initial investment, would be $4,284.
To calculate your total profit, you need to deduct your costs from your revenue. Let's break down the calculations:
1. Determine the number of cakes you can produce with the $10,000 investment:
Total investment / Cost to make each cake = Number of cakes
$10,000 / $14 = 714.29 cakes (approx.)
Note: Since you cannot produce a fraction of a cake, you will round down to the nearest whole number. Therefore, you can produce 714 cakes.
2. Calculate the total cost of producing those cakes:
Cost to make each cake x Number of cakes = Total cost
$14 x 714 = $9,996
3. Calculate the revenue generated from selling those cakes:
Number of cakes x Selling price per cake = Revenue
Since the selling price is not given, we cannot calculate the exact revenue. However, let's assume you sell each cake for $20.
714 x $20 = $14,280
4. Calculate your profit:
Revenue - Total cost = Profit
$14,280 - $9,996 = $4,284
Based on the assumptions made, your total profit would be $4,284. However, please note that this calculation is based on the given information of selling each cake for $20. Your actual profit could vary depending on the actual selling price of your cakes.