Question

Hot Dogs are sold by the pound. Some are 8 to 1 , 4 to 1, or 10 to 1, meaning there are that many hot dogs in one pound. If you have a pack of 10 to 1 hot dogs and want to sell them at a fundraiser and the cost you $3.60 per pound, how much should you charge for hot dog if you want to have a food cost of 30%. Disregard the bun and condiments and tax. Just work the Dog.

Answer 1

$1.20 First, calculate how much each hot dog costs you. Since you have a 1 lb pack of hot dogs and there's 10 hot dogs in that pack which costs you $3.60, you get $3.60 / 10 = $0.36 per hotdog. Now you want that cost to be 30% of the price you sell it at. So x * 30% = $0.36 Convert the percent to a decimal x * .30 = $0.36 Divide both sides by 0.30 x = $1.20 So you should charge for each hotdog $1.20