Question

We will assume that the first month you open is February, so there are 4 weeks in your month. Write an equation showing your total cost, which includes the rent, utilities, bowls, cones, spoons, and employees. It is up to you to decide how many of the cones, bowls, spoons you need to order, so make sure to include that information. Each pack of spoons, cones, or cups cost 5$ each. Remember that each pack of spoons has 100 spoons, each pack of cones has 60 cones, and each pack of cup has 80 cups. Next, determine how much you would charge for a small, medium, and large (assume that sizes are are the same for cones and bowls.) The table shows all of your orders for the month. Calculate how much you made in total sales. Finally, using your calculations from your total cost as well as your sales, figure out how much money you made your first month.

Answer 1

You made a total of $24,910 from your first month

Explanation

Step 1: Equation showing the Total Cost

Step 2: Table showing all the orders for the month

Step 3: Determine how much to charge for small, medium and large sizes.

Recall from the question that each pack of cones, bowls, spoons and cups costs $5 each.

Now, let's determine how much to charge.

Let's charge $7 for small sizes, $8 for medium sizes and $9 for large sizes.

Step 4: Calculate the total sales for the month

Cone = ($7 x 300) + ($8 x 800) + ($9 x 200) = $2100 + $6400 + $1800 = $10,300

Bowl= ($7 x 700) + ($8 x 1100) + ($9 x 600) = $19,100

Spoon = ($7 x 900) + ($8 x 700) + ($9 x 800) = $19,100

Cup= ($7 x 1000) + ($8 x 600) + ($9 x 900) = $19,900

Total sales = Total Cone + Total Bowl + Total Spoon + Total cup

Total sales = $10,300 + $19,100 + $19,100 + $19,900 = $68,400

Step 5: Determine the Total Cost

Total Cone = $5x(300+800+200) = $6,500

Total Bowl = $5x(700+1100+600) = $12,000

Total Spoon = $5x(900+700+800) = $12,000

Total Cup= $5x(1000+600+900) = $12,500

Let's assume the rent, utilities and employees.

Rent = $100

Utilities = $90

Employees = $300

Total Cost = $6,500 + $12,000 + $12,000 + $12,500 + $100 + $90 + $300 = $43,490.

Step 6: Determine how much you made

To determine the profit, subtract the total cost from the total sales.

Profit = Total Sales - Total Cost = $68,400 - $43,490 = $24,910.

Hence, you made a total of $24,910 from your first month.