Question

PLEASE HELP ME ANSWER THIS FAST! REWARDING THE MOST POINTS FOR BEST ANSWER!!!!!!!!!!

Examine the table. Nyala wants to make jewelry to sell online and records the total costs and her research in the table.

Cost of supplies: $8
Hours of labor: 1.5
Seller's fees: 9% of selling price
Shipping costs: $2
Average price of similar listings: $40

If Nyala sells the jewelry for $40, how much can she expect in hourly profit? Enter your answer as a number rounded to the nearest cent, like this: $42.53.

Answer 1

`\large\boxed{\large\boxed{\$ 17.60/hour}}`

Step-by-step explanation:

The profit will be the revenue less the cost.

The revenue will be the price times the number of items sold. The price is $40 the piece. Work with a piece.

• Revenue = $40

The total cost of a piece is the sum of the cost of the supplies, the seller's fees and the shipping costs of a piece:

• Cost of supplies: $8.00

• Seller's fee: 9% of $40 = 0.09 × $40 = $3.60

• Shipping costs: $2.00

• Total cost = $8 + $3.60 + $2 = $13.60

Profit = Revenue - Cost = $40 - $13.60 = $26.40

To find the hourly profit you must divide the profit of a piece by the hours of labor to make a piece.

• Hourly profit = $26.40/1.5hour = $17.60/hour