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 calculate the total profit, we need to subtract the total cost from the total revenue.
Total cost = Cost per cake * Number of cakes = $14 per cake * Number of cakes
Since we are not given the number of cakes sold, we can assume that with a $10,000 investment, we can make at least $10,000 worth of cakes.
Total cost = $14 per cake * Number of cakes = $14 * 10,000 = $140,000
Total revenue = $10,000
Total profit = Total revenue - Total cost = $10,000 - $140,000 = -$130,000
Based on these calculations, the total profit would be -$130,000, indicating a loss of $130,000.
number of cakes sold were 714
If the number of cakes sold was 714, we can calculate the total cost and total revenue.
Total cost = Cost per cake * Number of cakes = $14 per cake * 714 cakes = $9,996
Total revenue = Price per cake * Number of cakes sold = $14 per cake * 714 cakes = $9,996
Total profit = Total revenue - Total cost = $9,996 - $9,996 = $0
In this case, the total profit would be $0, indicating that there is no profit or loss.
did you make or lose money?
Apologies for the error in my previous response.
Given that the total cost per cake is $14 and the number of cakes sold is 714, the total cost would be:
Total cost = Cost per cake * Number of cakes = $14 per cake * 714 cakes = $9,996
Since the initial investment was $10,000, the calculation for profit would be:
Total profit = Total revenue - Total cost = $10,000 - $9,996 = $4
Therefore, the total profit earned would be $4.
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. 714 cakes sold. did you make or lose money?
Given that the cost per cake is $14 and the number of cakes sold is 714, the total cost would be:
Total cost = Cost per cake * Number of cakes = $14 per cake * 714 cakes = $9,996
Since the initial investment was $10,000, the calculation for profit would be:
Total profit = Total revenue - Total cost = $10,000 - $9,996 = $4
Therefore, you made a profit of $4.