Calculate Profit 4.10b

Front

What is profit?

Back

Profit is the amount of money a business makes after subtracting all expenses from the total revenue.

Front

How do you calculate profit?

Back

Profit = Total Revenue - Total Expenses

Front

If Claudia sold 10 bracelets for $4 each, what was her total revenue?

Back

Total Revenue = 10 bracelets x $4 = $40

Front

What were Claudia's total expenses for supplies?

Back

Claudia's total expenses were $13.65.

Front

What was Claudia's profit?

Back

Profit = Total Revenue ($40) - Total Expenses ($13.65) = $26.35

Front

What is the selling price of an item?

Back

The selling price is the amount of money a customer pays to buy a product.

Front

If Charles bought a rocking chair for $20 and spent $8 on repairs and $7.50 on paint, what were his total expenses?

Back

Total Expenses = $20 + $8 + $7.50 = $35.50

Front

What was Charles's selling price for the rocking chair?

Back

Charles sold the rocking chair for $65.

Front

How do you find Charles's profit?

Back

Profit = Selling Price ($65) - Total Expenses ($35.50) = $29.50

Front

What is the cost of making corn in a cup for Sandra?

Back

The cost of making corn in a cup was $9.29.