Question

If Flash sold another design of shoe for $63.50, and the total costs involved in its production were $32.80 how much profit did Flash earn on each pair sold? How much would they earn on 6,500 pairs sold?

Answer 1

Flash earns a profit of $30.70 on each pair of shoes sold for $63.50 with a production cost of $32.80, resulting in a total profit of $199,550 for 6,500 pairs sold.

Step-by-step explanation:

To determine the profit per pair of shoes sold by Flash, we need to subtract the total cost from the selling price.

Selling Price per shoe = $63.50
Total Cost per shoe = $32.80
Profit per shoe = Selling Price - Total Cost

Profit per shoe = $63.50 - $32.80

= $30.70

Now, to find the total profit for 6,500 pairs of shoes sold, we multiply the profit per shoe by the number of shoes.

Total Profit = Profit per shoe × Number of shoes sold
Total Profit = $30.70 × 6,500

Total Profit = $199,550

Flash would earn a profit of $30.70 on each pair of shoes sold and a total of $199,550 on 6,500 pairs sold.