Question

Selling Pies

The Lyman Pie Company sells many pies during the holiday
season. They sell each pie for $14; however, it costs them 58
worth of ingredients and labor to make each pie. The
company has to pay $200 for advertising during the holiday
season. In addition, because
of their increased sales, they rent
an additional van to help with deliveries, which costs $400.
1. Write an equation to represent Lyman Pie's Income.
2. Write an equation to represent Lyman Ple's Expenses
3. Write an equation to represent Lyman Pie's Profit
4. If Lyman Ple Company sells 500 pies, what will their profit be?
5. If Lyman Pie Company wants to make $1,800 profit, how many pies do they need to sell?

Answer 1

The equations to represent Lyman Pie's Income, Expenses, and Profit are provided, along with step-by-step instructions on how to calculate the profit when selling a given number of pies and determine the number of pies needed to make a desired profit.

Step-by-step explanation:

1. The equation to represent Lyman Pie's Income is:

Income = (Price per Pie) * (Number of Pies Sold)

2. The equation to represent Lyman Pie's Expenses is:

Expenses = (Cost per Pie) * (Number of Pies Sold) + Advertising Cost + Rental Cost

3. The equation to represent Lyman Pie's Profit is:

Profit = Income - Expenses

4. To find Lyman Pie Company's profit if they sell 500 pies, substitute the values into the equation:

Profit = ($14 * 500) - (($58 * 500) + $200 + $400)

5. To find the number of pies Lyman Pie Company needs to sell to make $1,800 profit, rearrange the profit equation:

($14 * Number of Pies Sold) - (($58 * Number of Pies Sold) + $200 + $400) = $1,800