11/22 Exit Ticket

Front

What is the formula to find the cost of one item when given the total cost and the number of items sold?

Back

Cost of one item = Total cost / Number of items sold.

Front

If Jared earned $13.75 selling 55 snow cones, how do you calculate the cost of one snow cone?

Back

Divide the total earnings ($13.75) by the number of snow cones (55).

Front

What is the total cost if one snow cone costs $0.25 and 55 snow cones are sold?

Back

Total cost = Cost per snow cone x Number of snow cones = $0.25 x 55 = $13.75.

Front

What does 'total earnings' mean in a sales context?

Back

Total earnings refer to the total amount of money received from sales before any expenses are deducted.

Front

What is the meaning of 'unit price'?

Back

Unit price is the cost of a single item or unit of a product.

Front

How do you convert total earnings into unit price?

Back

Unit price = Total earnings / Total number of items sold.

Front

If Jared sold 55 snow cones for $13.75, what is the unit price?

Back

Unit price = $13.75 / 55 = $0.25.

Front

What is the significance of understanding unit price in sales?

Back

Understanding unit price helps consumers compare costs and make informed purchasing decisions.

Front

What is a garage sale?

Back

A garage sale is a sale of used items, typically held in a person's garage or yard, where items are sold at lower prices.

Front

What is the importance of calculating costs in a business?

Back

Calculating costs helps businesses determine pricing, profitability, and financial health.